Introduction to Governmental Accounting for Accountants

The public sector environment is fundamentally different from that in which private-sector organizations operate, thus different accounting and financial reporting practices have developed for governments. This two-hour internet training will provide a basic introduction to the conceptual and practical ways in which generally accepted accounting principles (GAAP) for governments differs from that used for private companies. It will familiarize participants with the purpose and use of fund accounting, the three fund categories, the different measurement focuses and bases of accounting used in government financial statements, and the fund and government-wide financial statements.

Who Will Benefit: Those new to accounting in the public sector.

Learning Objectives:

• Those completing this seminar will be able to:
• Define the environmental differences that underlie differences in accounting and financial reporting for governments compared to private-sector entities
• Explain the use of fund accounting in the government environment
• Identify the three fund categories and the purposes for which they are used
• Identify the two measurement focuses and the purposes for which they are used.