Accounting and Financial Reporting

Government Accounting Intensive Series

Course Overview


Governmental Accounting Intensive Series



Field of Study

Accounting (Governmental)





* “Basic” level classes that fall within the accounting, auditing, and financial reporting topic assume that all participants have a fundamental understanding of double-entry accounting (e.g., debits and credits, normal account balances), elements of financial statements (e.g., assets, liabilities, revenues, and expenses), and broad categories of financial statements (e.g., position statements and operating statements). Participants who have current knowledge equivalent to those who have recently passed a college-level accounting class will meet these criteria.


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.

Learning Objectives

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
  • Elements of an annual comprehensive financial report

Who Will Benefit

Those wishing to obtain an understanding of the accounting and financial reporting for state and local governments.

Schedule and Sample Agenda

This series consists of seven sessions covering the following topics:

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 Overview of an Annual Comprehensive Financial Reports
  • Note Disclosures
  • Budgetary Reporting
  • Required Supplementary Information
  • Overview of an Annual Comprehensive Financial Report