Experience working in a local government.
Note: This course covers material already substantially covered in GFOA’s Intermediate Governmental Accounting course.
Accountants and auditors new to the public sector.
Accountants and auditors new to the public sector must immediately face the daunting challenge of familiarizing themselves with 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.
Those who successfully complete this seminar should obtain a solid basic understanding of each of the following:
- The unique environmental factors that have led to specialized accounting and financial reporting for state and local governments;
- Fund accounting;
- Government-wide financial reporting;
- How to categorize and measure transactions and events;
- Budgetary reporting;
- Elements of a comprehensive annual financial report (CAFR);
- How to interpret state and local government financial statements;
- Specialized applications (pensions, other postemployment benefits, termination benefits, government combinations, service concession arrangements, capital assets); and
- Internal control and auditing in the public sector.