Fundamentals of Governmental Accounting and Reporting

Overview

Fund accounting, budgeting, and reporting are examined for accounting professionals and auditors working with state and local governments.

Highlights

Key Topics

• The governmental environment and GAAP
• Fund accounting and the financial reporting model
• Measurement focus and basis of accounting (MFBOA)
• Governmental, proprietary, and fiduciary funds
• Government-wide financial statements
• Comprehensive annual financial report
• Special purpose governments
• Deferred outflows of resources and deferred inflows of resources

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

  • Recognize unique aspects of the governmental accounting environment.
  • Identify the governmental fund types, categories, and purposes.
  • Identify the appropriate MFBOA to fund accounting and reporting.
  • Recognize how to classify, measure, and report governmental revenues and expenditures.
  • Recognize the financial reporting structure used by governments.
  • Identify the format and reporting requirements for government-wide financial statements.
  • Recognize special purpose governments.
  • Identify the impact of capital assets and long-term liabilities at the fund reporting level as well as government-wide financial statement level.