Loading Events

Event Description

Governmental accounting is very unique. In this course, we will introduce the financial reporting basics for governments, including fund accounting and modified accrual accounting. We’ll discuss budgetary accounting and the use of encumbrances. We will review the rules on exchange and nonexchange transactions. We’ll also analyze the layouts of the fund financial statements as well as the government wide financial statements. The class will also cover the concept of component units. Finally, we close with a discussion on the concepts of Management Discussion & Analysis (MD&A) and other RSI that are specific to governmental entities.

Objectives

Learning Objectives:

  • List the types of governmental funds
  • Define component units and give examples
  • Identify financial statements required for fund accounting and government-wide reporting

Discussion Leader

Melisa Galasso, CPA