Governmental Accounting

Price: $111.00

CPE Credits: 12.0

Category: ,

Course Number: AAGOVTSB

governmental accounting

Description:
This course describes the unique aspects of governmental accounting, including the use of funds, the modified accrual basis of accounting, and many unique financial statement formats and disclosures. There is a strong emphasis on common accounting transactions, the comprehensive annual financial report, budgetary reporting, and nonexchange transactions. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: August 2017; Updated November 2018

Format: PDF
Pages: 298

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • • Recognize the entities responsible for formulating accounting standards.
    • Cite the organizational structure used by governmental accounting standards.
    • Specify the different types of funds and how they are used.
    • Describe the accounting structure of a fund.
    • Identify the characteristics of the different bases of accounting.
    • Specify how the accounting treatment for revenue varies, based on when it is received.
    • Recognize the accounting for incurred but unmatured liabilities.
    • Recognize the different types of infrastructure assets.
    • Identify the types of costs that can be included in the cost of a capital asset.
    • Specify when interest costs should and should not be capitalized.
    • Describe the stages of completion associated with the recognition of computer software.
    • Recognize the various indicators of asset impairment.
    • Specify the different types of long-term debt.
    • Recognize the different types of current liabilities.
    • Identify the funds that are more likely to have budgets associated with them.
    • Describe how an encumbrance is used.
    • Cite the different types of interfund activities.
    • Specify the classifications used to track expenditures.
    • Identify the components of net position.
    • Describe the nature of a financial reporting entity.
    • Specify the indicators of control over another entity.
    • Describe the contents of the various components of the comprehensive annual financial report.
    • Describe how the order of liquidity is applied in the statement of net position.
    • Recognize the proper accounting treatment for issued debt.
    • Describe how a negative balance is treated in the restricted net position line item.
    • Identify the different categories used for program revenues.
    • Specify the formula underlying a balance sheet.
    • Specify the disclosures used when there is a related party transaction.
    • Describe the proper accounting for the correction of an error.
    • Define a change in estimate, principle, and entity.
    • Specify the topics that should be covered in the notes to the financial statements.
    • Recognize the circumstances under which an accounting policy should be disclosed.
    • Cite the disclosures needed when future revenues are sold.
    • Identify the circumstances under which a budgetary comparison should be presented.
    • Describe the nature of budgetary control.
    • Recognize the types of funds that must present a statement of cash flows.
    • Specify how a statement of cash flows is constructed.
    • Identify the transactions that are associated with each of the classifications in a statement of cash flows.
    • Recognize the circumstances under which discrete presentation is used in the financial statements.
    • Recognize the factors involved in designating a component unit as major.
    • Cite the circumstances under which a statistical section is included in a set of financial statements.
    • Describe the formulation of fair value for real and personal property.
    • Specify which governments must include overlapping rates information in their financial statements.
    • Recognize the different types of demographic and economic indicators.
    • Specify the types of costs that can be associated with a purchase.
    • Describe the different levels of the fair value hierarchy.
    • Cite the criteria for determining whether risk has been transferred.
    • Specify the accounting to use when a loss has been incurred.
    • Recognize the types of costs associated with landfill closure and postclosure activities.
    • Specify the proper accounting for a change in the estimated total current cost of landfill closure and postclosure care.
    • Identify the circumstances under which a lease liability should be revised.
    • Describe the components of the lease receivable asset.
    • Specify the circumstances under which a government does not recognize a nonexchange transaction.
    • Cite the different types of restrictions associated with a grant.
    • Specify the accounting for a pass-through grant.

Description:
This course describes the unique aspects of governmental accounting, including the use of funds, the modified accrual basis of accounting, and many unique financial statement formats and disclosures. There is a strong emphasis on common accounting transactions, the comprehensive annual financial report, budgetary reporting, and nonexchange transactions. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: August 2017; Updated November 2018

Format: PDF
Pages: 298

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • • Recognize the entities responsible for formulating accounting standards.
    • Cite the organizational structure used by governmental accounting standards.
    • Specify the different types of funds and how they are used.
    • Describe the accounting structure of a fund.
    • Identify the characteristics of the different bases of accounting.
    • Specify how the accounting treatment for revenue varies, based on when it is received.
    • Recognize the accounting for incurred but unmatured liabilities.
    • Recognize the different types of infrastructure assets.
    • Identify the types of costs that can be included in the cost of a capital asset.
    • Specify when interest costs should and should not be capitalized.
    • Describe the stages of completion associated with the recognition of computer software.
    • Recognize the various indicators of asset impairment.
    • Specify the different types of long-term debt.
    • Recognize the different types of current liabilities.
    • Identify the funds that are more likely to have budgets associated with them.
    • Describe how an encumbrance is used.
    • Cite the different types of interfund activities.
    • Specify the classifications used to track expenditures.
    • Identify the components of net position.
    • Describe the nature of a financial reporting entity.
    • Specify the indicators of control over another entity.
    • Describe the contents of the various components of the comprehensive annual financial report.
    • Describe how the order of liquidity is applied in the statement of net position.
    • Recognize the proper accounting treatment for issued debt.
    • Describe how a negative balance is treated in the restricted net position line item.
    • Identify the different categories used for program revenues.
    • Specify the formula underlying a balance sheet.
    • Specify the disclosures used when there is a related party transaction.
    • Describe the proper accounting for the correction of an error.
    • Define a change in estimate, principle, and entity.
    • Specify the topics that should be covered in the notes to the financial statements.
    • Recognize the circumstances under which an accounting policy should be disclosed.
    • Cite the disclosures needed when future revenues are sold.
    • Identify the circumstances under which a budgetary comparison should be presented.
    • Describe the nature of budgetary control.
    • Recognize the types of funds that must present a statement of cash flows.
    • Specify how a statement of cash flows is constructed.
    • Identify the transactions that are associated with each of the classifications in a statement of cash flows.
    • Recognize the circumstances under which discrete presentation is used in the financial statements.
    • Recognize the factors involved in designating a component unit as major.
    • Cite the circumstances under which a statistical section is included in a set of financial statements.
    • Describe the formulation of fair value for real and personal property.
    • Specify which governments must include overlapping rates information in their financial statements.
    • Recognize the different types of demographic and economic indicators.
    • Specify the types of costs that can be associated with a purchase.
    • Describe the different levels of the fair value hierarchy.
    • Cite the criteria for determining whether risk has been transferred.
    • Specify the accounting to use when a loss has been incurred.
    • Recognize the types of costs associated with landfill closure and postclosure activities.
    • Specify the proper accounting for a change in the estimated total current cost of landfill closure and postclosure care.
    • Identify the circumstances under which a lease liability should be revised.
    • Describe the components of the lease receivable asset.
    • Specify the circumstances under which a government does not recognize a nonexchange transaction.
    • Cite the different types of restrictions associated with a grant.
    • Specify the accounting for a pass-through grant.
  • “..may I say it is rarer that I ever have gotten a personal reply from a CPE Site! Glad I have found your site.”

    - Tom

  • I wanted to compliment you on the Accounting Fraud – Recent Case Studies (AUCASEMC) course I just took. The ebook was fantastic! Concise, easy to understand, very well structured, and very interesting. Exactly the way I like it. Thank you for putting it together. I feel it took me enough time to be worth 2 CPEs, but it was fantastic nonetheless. Thank you.

    - Mark R.

  • You guys do a great job!  As a person in industry it can be really expensive to stay current and you have great options that are actually useful as well as cost effective!

    - Sue