Preparing an Annual Comprehensive Financial Report

The program is designed to familiarize participants with the format and contents of an annual comprehensive financial report 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 criteria. Attendees will examine in detail each section in order to understand the required format and necessary information to be included in each.

Who Will Benefit: CFO/Finance Director, Finance Director, Accountant

• Those completing this seminar should be able to:
• Identify the three basic sections of an annual comprehensive financial report and the essential components of each,
• Differentiate basic financial statements, required supplementary information, and other supplementary information within an annual comprehensive 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.