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Course No: 146122

Governmental Accounting and Reporting

$60

  • Credits: 8.0
  • Program level: Basic to Intermediate
  • Prerequisites: None

Field of Study: Accounting (Governmental)

Course Description

This course on accounting for governmental entities is intended to be used by anyone who would like to gain knowledge of accounting and financial reporting currently recommended for state and local governmental units. The course provides an overview of (1) the fundamental concepts underlying state and local governmental accounting and reporting, (2) the importance of budgetary accounting in government, and (3) the recognition rules and journal entries related to governmental financing. It also describes (1) the accounts and journal entries related to transactions specific to governmental entities, (2) the process of defining the governmental reporting entity, (3) the components of the comprehensive annual financial report (CAFR), (4) the reporting requirements for government- wide and fund-based financial statements, and (5) other required information in the CAFR.

Learning objectives

  • Identify the basic differences between governmental and private sector accounting.
  • Recognize major concepts of governmental accounting.
  • Identify basic concepts for financial reporting in governmental accounting.
  • Recognize the differences between the various governmental fund types.
  • Recognize the basic differences in financial reporting requirements of the different fund types.
  • Identify how governmental funds are reported and rules for separate reporting as major funds.
  • Recognize key elements of government-wide financial statements.

Advance preparation: none

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

We are Register with

Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

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