Finance professionals in the state and local government sector with either no background or only a limited background in accounting and financial reporting.
Accounting and financial reporting form an essential component of the informational infrastructure that undergirds state and local government finance. Decisions are only as good as the information that supports them. This two-hour internet training provides an introduction designed to equip participants to better understand and profit from state and local government financial reports.
- To understand the role of accounting and financial reporting in the governmental environment
- To understand who the “players” are (financial statement users, preparers, auditors)
- To understand the “rules of the game” (generally accepted accounting principles – GAAP)
- To understand what fund accounting is and how it works (fund categories and fund types)
- To understand what different funds measure and when they measure it (measurement focus and basis of accounting)
- To understand government-wide financial statements and their relationship to fund financial statements (how does the information differ and why?)
- To understand where to look for additional information to help understand the financial statements and how to use that information (comprehensive annual financial report)