Introduction to Governmental Accounting

Governmental accounting is distinct from other forms of accounting, requiring a unique approach to financial reporting. This course introduces the fundamentals of governmental accounting, including fund accounting principles and the modified accrual basis of accounting. Participants will explore the structure and purpose of fund financial statements alongside government-wide financial statements, gaining a comprehensive understanding of their layouts and key elements. The course also delves into critical topics such as the concept of component units, the role and structure of Management Discussion & Analysis (MD&A), and the preparation and importance of the Annual Comprehensive Financial Report (ACFR). Perfect for those new to governmental accounting, this course provides a solid foundation for understanding and applying these essential principles.

Basic Course Information

• Recall the requirements of governmental financial reporting
• Recognize organizations that follow governmental financial reporting standards
• Identify elements of governmental financial statements
• Identify the appropriate fund classification
• Identify the requirements to be a component unit
• Recognize the components of net position for different fund types

• Governmental financial reporting
• Auditing
• Yellowbook