Intermediate Governmental Accounting: Capital Assets and Long-term Liabilities

This seminar is designed to provide participants with a solid working knowledge of the specialized accounting and financial reporting used by state and local governments for capital assets and long-term liabilities including debt instruments, leases and compensated absences.  The capital asset accounting and financial reporting content includes reporting requirements through GASB Statement No.104. The seminar includes a discussion on ‘what government issuers need to know’ ahead of issuing general obligation debt. The content is provided through a combination of lectures, discussion questions and exercises.

Those who successfully complete this series should gain a basic understanding of the appropriate governmental accounting and financial reporting related to:

• Understand the capitalization components and valuation of capital assets, including intangible assets.
• Prepare annual financial reports to meet the presentation and disclosure requirements for capital assets and long-term liabilities, including debt instruments.
• Identify the components of lease agreements and subscription-based information technology arrangements agreements for measurement and financial reporting.
• Understand the types of public-private and public-public partnerships and availability payment arrangements and the required financial reporting.
• Calculate compensated absences liabilities.

This course is taught by GFOA Technical Services Center staff, finance officers and other industry experts.