Advanced Governmental Accounting
Prerequisite: Intermediate Governmental Accounting or its equivalent Course Level: Advanced CPE Credits: 20 2.5 Days 1st and 2nd day: 9 a.m. – 5 p.m. 3rd day: 8 a.m. – 11:30 a.m.
View Current Training Schedule Who Will Benefit Accounting and financial reporting professionals with at least two years of experience, or who have attended the GFOA’s Intermediate Governmental Accounting seminar or an equivalent program.
Program
This two-and-one-half-day seminar provides a detailed examination of selected governmental accounting topics. Emphasis throughout is placed on the practical application of generally accepted accounting principles.
Advance Preparation
None
Seminar Objectives
Those who successfully complete this seminar should be able to: - Perform basic journal entries for the issuance, repayment, and refinancing of debt;
- Determine when grant revenue should be recognized;
- Perform basic journal entries for investments;
- Determine the annual cost of compensated absences;
- Determine the appropriate measure of cost for employers offering pension and other postemployment benefits (OPEB) under a variety of arrangements, as well as termination benefits;
- Perform basic journal entries for risk financing activities;
- Account for the acquisition, improvement, impairment, and disposal of capital assets, including intangibles;
- Distinguish sales of future cash flows from pledges and perform the basic journal entries for each;
- Identify certain specialized applications of lease accounting in the public sector;
- Classify cash flows;
- Determine the annual cost of pollution remediation and of landfill closure and postclosure care;
- Identify situations that give rise to rebatable arbitrage and apply the appropriate accounting;
- Perform basic worksheet entries to incorporate fund data into government-wide financial statements; and
- Identify joint ventures and similar arrangements and apply the appropriate accounting for each.
Recommended Reading
2005 Governmental Accounting, Auditing, and Financial Reporting: Using the GASB 34 Model (Chapter 12) Faculty Stephen Gauthier, Director, Technical Services Center, Government Finance Officers Association, Chicago, Illinois Jake Lorentz, Assistant Director, Technical Services Center, Government Finance Officers Association, Chicago, Illinois
Registration Fees
GFOA member: $685 Nonmember: $865 View Current Training Schedule
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