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Governmental Accounting and Reporting

Author/Moderator: Robert Smith, Jr., Ph.D., CPA, CGFM
Publisher: AICPA
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Governmental accounting and reporting is complex. Unravel the complexity with this CPE course that explores case studies, real-world examples, and hands-on practice scenarios which offer a uniquely comprehensive blend of today’s significant updates, historical perspectives, and fundamental state and local government accounting and reporting requirements. This CPE course is excellent for those who are familiar with basic state and local governmental accounting concepts who are looking to perform a deep examination of fundamentals, such as how to prepare Agency Fund, Internal Service Fund, Investment Trust Fund, and Special Revenue Fund financial statements.

Topics Discussed:

  • Foundations of government accounting
  • Fund accounting
  • Preparing the government-wide financial statements
  • Note disclosures
  • Deferred outflows of resources and deferred inflows of resources
  • Introduction to GASB Statement No. 67, 68, and 69

Learning Objectives:
When you complete this course you will be able to:

  • Describe the fund structure used by state and local governments.
  • Differentiate between the different Measurement Focuses and Bases of Accounting (MFBOA) used in governmental financial statements.
  • Describe key fund accounting transactions and events.
  • Identify the components of the capital assets and long-term liabilities note disclosures.
  • Peform the process of converting the governmental fund financial statements, together with the capital assets and long-term liabilities note disclosures, to the governmental activities columns on the government-wide financial statements.
  • Explain the complexities of eliminating the Internal Service Funds before preparing the government-wide financial statements.
  • Prepare the government-wide fnancial statements and required reconciliations using the conversion worksheets and Enterprise Fund financial statements.

Who Will Benefit?
Auditors and financial managers responsible for the accounting and reporting of state and local governments, agencies, divisions, and teams

Prerequisite: Prior experience with governmental accounting and reporting

Advanced Preparation: None.

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NASBA Field of Study: Accounting (Governmental)
Level: Intermediate
Recommended CPE Credit: Text - 7; On-Demand - 6
Yellow Book Hours: Text - 7; On-Demand - 6
Governmental Accounting and Reporting
Text , 2014
Product# 732809
Availability: In Stock
AICPA Member:$135.00
Your Price:$168.75
Governmental Accounting and Reporting
CPE On-Demand , 2014
Product# 163720
Availability: Online Access 1 Year
For registered users only
AICPA Member:$135.00
Your Price:$168.75
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