Enterprise Fund Accounting

Training Type: 
Live Training
Course Status: 
Repeat Offering
Date and Time: 
Mar 11 2019 - 8:30am to 4:30pm  MDT
Region: 
Mountain
Location: 

Salt Lake City, UT (DoubleTree Suites by Hilton Salt Lake City Downtown)

110 West 600 South
Salt Lake City, UT 84101
United States
Level: 
Intermediate
Field of Study: 
Accounting – Governmental
CPE Credits: 
8
Member Price: 
$370.00
Non-Member Price: 
$550.00
Prerequisite: 

Basic understanding of private-sector accounting and financial reporting.

Speakers: 
Assistant Director for Training
GFOA
Managing Partner
Government R&D Center LLC
Who Will Benefit: 

Accounting and auditing professionals involved with enterprise funds or stand-alone business-type activities.

Program Description: 

This seminar is designed to familiarize participants with features of accounting and financial reporting for enterprise funds and stand-alone business-type activities that differ from private-sector theory and practice, including:

  • Interest capitalization (tax-exempt debt and grants);
  • Capital asset impairments;
  • Debt issuance, classification, and refunding;
  • Pensions and other postemployment benefits;
  • Compensated absences;
  • Tap fees, impact fees, payments in lieu of taxes;
  • Optional specialized accounting for regulated industries;
  • Service concession arrangements (public/private partnerships – P3’s);
  • Allocation of primary government liabilities;
  • Reclassifications needed for stand-alone reporting; and
  • Acquiring capital assets within the same reporting entity.

It also familiarizes participants with the format and contents of a comprehensive annual financial report (CAFR) for an enterprise fund or stand-alone business-type activity prepared in accordance with both generally accepted accounting principles (GAAP) and the program requirements of the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting Program.

Updated to include GASB Statement No. 86, Certain Debt Extinguishement Issues

Updated to include GASB Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements

Updated to include GASB Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period

PARTICIPANTS ARE ENCOURAGED TO BRING WITH THEM A COPY OF THEIR ENTERPRISE FUND’S OR STAND-ALONE BUSINESS-TYPE ACTIVITY’S CAFR (OR A COPY OF ITS AUDITED FINANCIAL STATEMENTS IF THE ENTITY DOES NOT YET PREPARE AND ISSUE A CAFR).

Seminar Objectives: 

This seminar is designed to familiarize participants with features of accounting and financial reporting for enterprise funds and stand-alone business-type activities that differ from private-sector theory and practice, including:

  • Capital asset impairments;
  • Debt issuance, classification, and refunding;
  • Pensions and other postemployment benefits;
  • Compensated absences;
  • Tap fees, impact fees, payments in lieu of taxes;
  • Optional specialized accounting for regulated industries;
  • Service concession arrangements (public/private partnerships – P3’s);
  • Allocation of primary government liabilities;
  • Acquiring capital assets within the same reporting entity;
  • Reclassifications needed for stand-alone reporting; and
  • Note disclosures, required supplementary information, and statistical schedules for a comprehensive annual financial report.