Accounting and auditing professionals involved with the preparation of financial statements for state and local governments.
From long-term general obligation bonds to short-term borrowings, debt is a fact of life in the public sector. All the same, many questions and issues can and do arise in connection with accounting and financial reporting for debt. This two-hour interactive internet training program will examine the appropriate journal entries related to debt in a wide range of circumstances, as well as the note disclosure requirements that apply in each case.
To enable participants to better comply with the requirements of generally accepted accounting principles for state and local governments regarding accounting and financial reporting for debt. Those who successfully complete this seminar should be able to:
- Understand and prepare the journal entries and required financial reporting disclosures associated with the following types of debt:
- Basic bond issuance
- Refunding debt
- Demand bonds
- Special assessment debt
- Conduit debt
- Deep discount debt
- Short-term debt
- Long-term borrowings within the reporting entity
- Proprietary fund debt.