CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Governmental Accounting Made Easy

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
14 Credits: Accounting (Governmental)

Course Description

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.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • 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

Chapter 2

  • Recognize the different bases of accounting, noting what measurement focuses are used by governments
  • Identify assets, liabilities, and net assets

Chapter 3

  • Recognize fund fundamentals and the various types of governmental funds
  • Note the components of proprietary funds and fiduciary funds

Chapter 4

  • 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

Chapter 5

  • Identify the reporting entity, including the accountability focus
  • Recognize component units and their financial statements

Chapter 6

  • 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

Chapter 7

  • 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

Chapter 8

  • Recall the accounting for pensions and other postemployment benefits

Chapter 9

  • 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

Chapter 10

  • Note upcoming developments in governmental accounting

Course Specifics

Course ID
5173452
Revision Date
February 21, 2018
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Warren Ruppel Headshot
Warren Ruppel

Warren Ruppel, CPA, is a Partner at Marks Paneth & Shron LLP, New York, where he serves in the firm’s nonprofit and Government Services Group and also is a leader in its Professional Practices Group. Formerly, he was the assistant comptroller for accounting of the City of New York, where he was responsible for all aspects of the city’s accounting and financial reporting. He has thirty-five years of experience in governmental and not-for-profit accounting and financial reporting. He began his career at KPMG after graduating from St. John’s University, New York. His involvement with governmental accounting and auditing began with …

Warren Ruppel Read More »

Governmental Accounting Made Easy

Expert Instructors
Format
CPE CREDITS
14 Credits: Accounting (Governmental)

$364.00$404.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
14 Credits: Accounting (Governmental)

Course Description

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.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • 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

Chapter 2

  • Recognize the different bases of accounting, noting what measurement focuses are used by governments
  • Identify assets, liabilities, and net assets

Chapter 3

  • Recognize fund fundamentals and the various types of governmental funds
  • Note the components of proprietary funds and fiduciary funds

Chapter 4

  • 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

Chapter 5

  • Identify the reporting entity, including the accountability focus
  • Recognize component units and their financial statements

Chapter 6

  • 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

Chapter 7

  • 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

Chapter 8

  • Recall the accounting for pensions and other postemployment benefits

Chapter 9

  • 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

Chapter 10

  • Note upcoming developments in governmental accounting

Course Specifics

Course ID
5173452
Revision Date
February 21, 2018
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Warren Ruppel Headshot
Warren Ruppel

Warren Ruppel, CPA, is a Partner at Marks Paneth & Shron LLP, New York, where he serves in the firm’s nonprofit and Government Services Group and also is a leader in its Professional Practices Group. Formerly, he was the assistant comptroller for accounting of the City of New York, where he was responsible for all aspects of the city’s accounting and financial reporting. He has thirty-five years of experience in governmental and not-for-profit accounting and financial reporting. He began his career at KPMG after graduating from St. John’s University, New York. His involvement with governmental accounting and auditing began with …

Warren Ruppel Read More »

Governmental Accounting Made Easy

Expert Instructors
Format
CPE CREDITS
14 Credits: Accounting (Governmental)

$364.00$404.00

Clear