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Accounting for Enterprise Funds - April 9, 2013

Group-live course
Prerequisites: None

Course level: Intermediate

CPE credits: 8

Time: 1 day, 9:00 am – 5:00 pm

 

Registration form
Register online

 

Who Will Benefit

Accountants and auditors whose professional responsibilities, either directly or indirectly, involve accounting and financial reporting for enterprise funds and stand-alone business-type activities.


Program

This seminar examines both accounting and financial reporting for enterprise funds and business-type activities. Because such activities generally follow the same standards used in the private sector, the accounting section of the program focuses exclusively on transactions and accounting treatments that are unique to the public sector. The financial reporting portion of the program then examines in detail the format and contents of a comprehensive annual financial report (CAFR) of a stand-alone business-type activity.


Advance Preparation

None


Seminar Objectives

Those who successfully complete this seminar should be able to:

  • Describe practical differences between private-sector businesses and public-sector business-type activities
  • Identify transactions for which accounting and financial reporting standards differ between the private and public sectors
  • Calculate capitalizable interest, including situations involving projects financed by tax-exempt debt and grants
  • Calculate capital asset impairments
  • Perform basic journal entries for a debt refinancing
  • Determine the cost of pensions and other postemployment benefits (OPEB)
  • Classify cash flows
  • Perform basic journal entries for tap fees, impact fees, and developer contributions
  • Report interfund activity
  • Explain how regulatory accounting differs from regular accounting and when its use is appropriate in the public sector
  • Identify the basic sections of a CAFR for a business-type activity and the key components of each


Recommended Reading

Governmental Accounting, Auditing, and Financial Reporting (GAAFR): Using the GASB 34 Model (Chapter 6)

 

Registration Fees
GFOA member:  $370     Nonmember:  $550

 

Registration form
Register online