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.
- 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
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.