Accounting Academy: An Intensive Introduction to Governmental Accounting, Auditing, and Financial Reporting - May 11-15, 2009
Course Level: Introductory
CPE credits: 40 5 Days 9 a.m. - 5 p.m., all five days Register online Who Will Benefit Accountants and auditors new to the public sector.
Program Overview
Accountants and auditors new to the public sector must immediately face the daunting challenge of mastering the highly specialized rules, guidelines, and practices applicable to state and local governments. This intensive five-day workshop, intended for those who already possess at least a basic knowledge of private-sector accounting, combines lecture, discussion, and exercises to help newcomers make this difficult, but essential transition.
Advance Preparation
None
Seminar Objectives
Those who successfully complete this seminar should be ablew to: - Explain the unique aspects of the governmental environment that have led to specialized accounting and financial reporting
- Identify the appropriate generally accepted accounting principles (GAAP)
- Categorize transactions and events as exchange, exchange-like, or nonexchange
- Select the appropriate fund to use to account for a given function or activity
- Categorize the various types of interfund activity
- Apply modified accrual accounting to activities reported in governmental funds
- Apply accrual accounting as modified for use in the public sector
- Identify each of the basic financial statements
- Identify the format and contents of mandated budgetary comparisons
- Identify the basic sections of a comprehensive annual financial report (CAFR) and the essential components of each
- Interpret the basic financial statements
- Identify the essential elements of a comprehensive framework of internal control
- Identify key differences between auditing in the public and private sectors (e.g., Single Audit and “Yellow Book” audits)
FacultyKrisztina Dommer, Senior Program Associate, Technical Services Center, GFOA, Chicago, Illinois Stephen Gauthier, Director, Technical Services Center, GFOA, Chicago, Illinois Jake Lorentz, Assistant Director, Technical Services Center, GFOA, Chicago, Illinois Registration FeesGFOA member: $1,360 Nonmember: $1,885 Register online
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