This CPE course is excellent for those who are familiar with fundamental state and local governmental concepts and those 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
Preparing the government-wide financial statements
Deferred outflows of resources and deferred inflows of resources
When you complete this course, you will be able to:
Describe the fund structure used by state and local governments
Differentiate between the various Measurement Focuses and Bases of Accounting (MFBA) 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
Perform the process of converting the governmental fund financial statements, together with the capital assets and long-term liabilities note disclosures, to the governmental activities column on the government-wide financial statements
Explain the complexities of eliminating the Internal Service Funds before preparing the government-wide financial statement
Prepare the government-wide financial 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.
Enhanced On-Demand Format
This enhanced on-demand format features audio and voice narration to keep you actively engaged with the course content. Additionally, updated course navigation allows you to easily move throughout the material. For your convenience, a PDF version of the text manual is included for download to use as a reference guide.