Fundamentals of Governmental Accounting and Reporting: Fund Accounting and Financial Statements

Overview

Fund accounting and reporting intricacies are decoded for accounting professionals and auditors who work with state and local governments.

Highlights

Key Topics

• Governmental, proprietary, and fiduciary funds
• Fund accounting and the financial reporting model
• Fund financial statements

Prerequisites

None

Designed For

Who Will Benefit

• Accounting and finance professionals working in the state and local government environment
• Auditors with state and local government clients seeking a refresher in fundamental governmental acc

  Objectives

  Learning Outcomes

  • Identify the governmental fund types and fund categories.
  • Identify how revenues and expenditures are recognized and recorded in governmental funds.
  • Recognize how proprietary funds are used to account for a government business-type activity.
  • Recognize how governments use trust and custodial funds to report the activities of assets held for others.
  • Identify how governments often make resource allocation decisions by fund.
  • Recognize that governments must provide financial information by funds to demonstrate accountability.