Government Accounting Intensive Series

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 series, intended for those who already possess at least a basic knowledge of private-sector accounting, assists newcomers in making this difficult, but essential, transition.

Detailed Instructions on how to access the GFOA Learning Management System will be sent to all class participants prior to the first day of class.

Session 1 - The Government Environment and Fund Accounting
The Government Environment and its Impact
Funds and Fund Types
Measurement Focus and Basis of Accounting

Session 2 - Governmental Fund Accounting
Categories of Events and Transactions
Governmental Fund Revenue Recognition
Governmental Fund Expenditures
Other Financing Sources and Uses

Session 3 - Governmental Fund Reporting
Financial Statement Elements
Governmental Fund Financial Statements

Session 4 - Proprietary Fund Accounting and Reporting
Enterprise Funds
Internal Service Funds
Proprietary Fund Financial Statements

Session 5 - Fiduciary Fund and Component Unit Accounting and Financial Reporting
Identifying Component Units
Fiduciary Activities
Fiduciary Fund Accounting
Fiduciary Fund Financial Statements
Component Unit Reporting

Session 6 - Government-wide Financial Reporting
Interfund Activity
Government-wide Financial Statements

Session 7 - Completing the Basic Financial Statements
Supplementary Information, and comprehensive annual financial reports
Note Disclosures
Budgetary Reporting
Required Supplementary Information
Overview of a Comprehensive Annual Financial Report

• Those who successfully complete this series should obtain a solid understanding of each of the following:
• Generally accepted accounting principles (GAAP) for state and local governments,
• The unique environmental factors that have led to specialized accounting and financial reporting for state and local governments,
• Fund accounting,
• Government-wide financial reporting,
• Measurement focus and basis of accounting,
• How to categorize and measure transactions and events,
• Component units,
• Budgetary reporting, and
• Elements of a comprehensive annual financial report.