Basic understanding of governmental generally accepted accounting principles and familiarity with governmental Comprehensive Annual Financial Reports (CAFRs).
Accounting and financial reporting professionals who are familiar with the contents of a CAFR and have prepared, or wish to be able to prepare the Letter of Transmittal and Management’s Discussion and Analysis (MD&A).
Generally accepted accounting principles (GAAP) require governments to present a MD&A with their basic financial statements for general purpose external financial reporting. For governments that choose to prepare a CAFR, GAAP require the inclusion of a Letter of Transmittal as well.
This two-hour internet training is designed to educate participants on the basic elements of an effective Letter of Transmittal and the required components of a MD&A, while providing helpful hints and numerous examples from award- winning CAFRs.
Those who successfully complete this seminar should be able to:
Identify the basic elements of a high quality Letter of Transmittal.
Understand the eigh trequired components of a MD&A.
Determine what kind of information is appropriate for disclosure in each section, identifying that which may only be included in one.
Become familiar with appropriate narrative and visual information representation for each section.
Distinguish analysis from other information dissemination and learn to appropriately prioritize this key element of a MD&A.