Governmental accounting is different from commercial accounting. Governmental entities use a fund-based accounting system in which some of the funds use a modified-accrual accounting method as opposed to the accrual method used by commercial entities. Also, the financial statements of governmental entities have a foundation in the individual funds but aggregate to a government-wide level.
Upon completion of this course, you will be able to apply the general principles underlying the government accounting standards, demonstrate the basis of accounting used by governments and how fund accounting is used to report the difference programs and activities of the government. You will also be able to identify the financial statements, disclosures, and supplementary information typically reported in the Comprehensive Annual Financial Report. Sample statements are provided to enhance your knowledge of the relationships between the statements.
Course Publication Date:
August 22, 2024
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$50.00!
| Author: | Delta CPE |
| Course No: | GACT-FINREP-40094 |
| Recommended CPE: | 5.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting (Governmental)
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Learning Objectives
- Recognize the general principles of government accounting.
- Recognize the use of funds.
- Identify the different bases used in government accounting.
- Recognize modifications used in government accounting.
- Identify the financial reporting requirements.
- Recognize the components of a Comprehensive Annual Financial Report.
- Recognize the elements of the financial statements.