Governmental Accounting Academy

The GFOAT Governmental Accounting Academy is an intensive introduction to
governmental accounting, auditing, and financial reporting using GFOA training materials.

Who Will Benefit

Accountants, finance officers, and auditors new to the public sector. Finance Directors who want to increase their understanding of the governmental accounting and reporting process.

Program Description

Accountants and auditors new to the public sector face the daunting challenge of familiarizing themselves with the highly specialized rules, guidelines, and practices applicable to state and local governments. This intensive three-day workshop—intended for those who already possess at least a basic knowledge of private-sector accounting—combines lecture, discussion, and exercises to help newcomers make this difficult, but essential, transition.

Agenda and Topics

  • Doors open at 7:30 a.m. Breakfast and Lunch provided – email Crane by November 15 with any dietary restrictions.
  • Wednesday (Nov 29) Sessions 8:00 a.m.–4:00 p.m.
    Authoritative and best practice sources of guidance, Governmental Environment, Fund Accounting, Measurement Focus, Basis of Accounting, Revenue & Expenditure/Expense Recognition, Other Sources and Uses
  • Thursday (Nov 30) Sessions 8:00 a.m.–4:00 p.m.
    Governmental Fund Financial Statements, Proprietary Funds, Proprietary Fund Financial Statements, Inter fund Activity
  • Friday (Dec 1) Sessions  7:45 a.m.–3:25 p.m.
    Entity-Wide Financial Statements, Audit, Annual Comprehensive Financial Report

Instructors:

  • Bob Scott, CPA, Town of Prosper
  • Debbie Reid, CPA, DR Local Government Solutions LLC
  • Diana Vaughn, CPA, City of Carrollton
  • John Manning, CPA, Pattillo, Brown & Hill

Seminar Objectives

  • Those who successfully complete this seminar should obtain a solid basic understanding of each of the following:
  • The unique environmental factors that have led to specialized accounting and financial reporting for state and local governments;
  • Fund accounting;
  • Government-wide financial reporting;
  • How to categorize and measure transactions and events;
  • Budgetary reporting;
  • Elements of an Annual Comprehensive Financial Report (ACFR);
  • How to interpret state and local government financial statements;
  • Specialized applications (pensions, other postemployment benefits, leases, termination benefits, government combinations, financial reporting entity, service concession arrangements, pollution remediation, fiduciary funds) are discussed only at the conceptual level and are considered intermediate or advanced topics; and
  • Internal control and auditing in the public sector is also discussed at the conceptual level without significant detail.

Prerequisite

Basic knowledge of private sector accounting concepts and/or experience working in a local government or public accounting firm auditing local government

Registration Information

Registrations are limited to the first 85 registrants, and we will not maintain a waiting list.

Member Price: $775.00 • Non-Member Price: $875.00

Cancellation Information

Cancellation & Substitute Policy:  If you are registered and cannot attend, we encourage you to send a substitute.  If you cannot send a substitute, a $100 cancellation fee will be assessed if written cancellation is received by November 15, 2023.  No refunds will be honored after November 15, 2023.

Meeting and Hotel Information

The meeting will be held at the Bob Bennett Utilities and Transportation Building, 3400 Sunrise Road, Round Rock, TX 78665. Complimentary Parking is available.

Click here for Round Rock Hotels. GFOAT cannot guarantee the quality of these facilities, so please check TripAdvisor, Yelp, or similar sites for recent hotel reviews before booking. GFOAT does not contract with any Round Rock hotels for group rates. Please contact the specific hotel for room and rate availability during your desired stay.

Continuing Education Credit

Individuals may submit program information to their certifying agency to determine if CEU’s or other credits may be applied. GFOAT does not pre-certify sessions for credit. You may earn up to 12 hours of CPE and No Prerequisites are required.

Meeting Accommodations

Meeting accommodations requests such as dietary restrictions must be submitted to Crane Petty by November 15o be considered.

Before You Go

Registered attendees will be sent a link to access PDF’s of the slide decks before the event. Please download or print the slides well in advance because each day’s material has several hundred slides.

The academy dress code is comfortable business casual. Don’t forget your sweater or wrap to ensure comfort in the meeting room.