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Basic understanding of private-sector accounting and financial reporting.
Accountants and auditors new to the public sector.
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 intensive four-day workshop, intended for those who already possess at least a basic knowledge of private-sector accounting, combines lecture, discussion, and exercises to help newcomers make this difficult, but essential, transition.
Updated to include GASB Statement No. 84, Fiduciary Activities.
Participants may wish to bring a copy of their CAFR to the course. The material in this course is incorporated into GFOA’s Intermediate Governmental Accounting course.
Those who successfully complete this seminar should obtain a solid basic 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 (CAFR).