Every accountant knows how important it is to be equipped with just the right tools to run the financial and accounting operations within your organization. This complete and straightforward course covers a broad range of governmental accounting topics that fall under the Governmental Accounting Standards Board and its recently revised financial reporting model, including practical information in easy-to-understand terminology. Even if you do not have a professional understanding of accounting principles and financial reporting, Governmental Accounting Made Easy makes it all clear with accounting rules explained in terms anyone can understand so that you can better fulfill your managerial and fiduciary duties.
Upon successful completion of this course, participants will be able to:
- Recognize what constitutes GAAP, who determines what is GAAP, and if governments need to comply with GAAP
- Identify why governmental accounting and financial reporting are different from commercial and not-for-profit accounting and financial reporting, and recognize what entities governmental generally accepted accounting principles apply to
- Recognize the different bases of accounting, noting what measurement focuses are used by governments
- Identify assets, liabilities, and net assets
- Recognize fund fundamentals and the various types of governmental funds
- Note the components of proprietary funds and fiduciary funds
- Recall the basics of governmental financial statements, including general-purpose financial statements, management's discussion and analysis, and the basic financial statements
- Recall the basics of governmental financial statements, including fund financial statements, required supplementary information, and the comprehensive annual financial report
- Identify the reporting entity, including the accountability focus
- Recognize component units and their financial statements
- Identify revenue from nonexchange transactions, the classes of nonexchange transactions, and derived revenues
- Recognize any needed adjustments for the accrual basis of accounting, noting the accounting for grants and other financial assistance
- Cite how and where capital assets are recorded in the financial statements, and how the modified approach can be used in lieu of depreciating infrastructure assets
- Recognize how interest must be capitalized in certain situations, the treatment of capital leases and intangible assets, and the impairment rules for capital assets
- Recall the accounting for pensions and other postemployment benefits
- Cite the accounting for investments and the related disclosures, and the accrual for compensated absences
- Cite the accounting for landfill closure and postclosure costs, derivatives, and securities lending transactions
- Note upcoming developments in governmental accounting
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Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.
Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.
Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.
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