Accounting and Financial Reporting

Fundamentals of Preparing a Comprehensive Annual Financial Report

e-Learning Course

February 16-March 4, 2021

  • Field of Study: Accounting (Governmental)
  • Credits: 12.00
  • Prerequisite: Accounting and financial reporting professionals with at least two years of public sector experience

The program is designed to familiarize participants with the format and contents of a comprehensive annual financial report prepared in accordance with GAAP and GFOA’s Certificate award program criteria. Attendees will examine in detail each section in order to understand the required format and necessary information to be included in each. Each training module/day will focus on specific sections of the comprehensive annual financial report and feature both presentation and interactive discussion/exercises.

  • Day 1: February 16th, 1:00pm to 3:00pm Eastern - Overview of GASB Codification, introductory section, and letter of transmittal
  • Day 2: February 18th, 1:00pm to 3:00pm Eastern - Management’s discussion and analysis, structure of the basic financial statements, presentation of component units, and major fund and fund-type reporting
  • Day 3: February 23th, 1:00pm to 3:00pm Eastern - Governmental fund financial statements, including the budgetary statement and reconciliations
  • Day 4: February 25th, 1:00pm to 3:00pm Eastern - Proprietary fund statements, fiduciary fund statements, and combining statements and schedules
  • Day 5: March 2nd, 1:00pm to 3:00pm Eastern - Government-wide financial statements
  • Day 6: March 4th, 1:00pm to 3:00pm Eastern - Summary of significant accounting policies, notes to the financial statements, required supplementary information, and statistical section

Who Will Benefit: Accounting and auditing professionals

Learning Objectives:
  • Identify the three basic sections of a comprehensive annual financial report and the essential components of each,
  • Differentiate basic financial statements, required supplementary information, and other supplementary information within a comprehensive annual financial report,
  • Identify the appropriate elements of a letter of transmittal,
  • Identify the appropriate elements to include in management’s discussion and analysis,
  • Format each of the basic financial statements,
  • Classify data in each of the basic financial statements,
  • Properly apply commonly misunderstood note disclosure requirements,
  • Prepare required supplementary information,
  • Format combining and individual fund statements, and
  • Prepare required statistical presentations.

  • Member Price: $420.00
  • Non-member Price: $840.00