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
- Monday (December 2) 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 - Tuesday (December 3) Sessions 8:00 a.m.–4:00 p.m.
Governmental Fund Financial Statements, Proprietary Funds, Proprietary Fund Financial Statements, Inter fund Activity - Wednesday (December 4) Sessions 7:45 a.m.–3:25 p.m.
Entity-Wide Financial Statements, Audit, Annual Comprehensive Financial Report - Breakfast and Lunch provided
Instructor:
- Bob Scott, CPA, Town of Prosper
- Diana Vaughn, CFO, City of Carrollton
- Keith Dagen, Retired
- Lauren Stamey, Forvis
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.
Prerequisites
Basic knowledge of private sector accounting concepts and/or experience working in a local government or public accounting firm auditing local government
Registration Information
Registration for this academy is sold out.
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, 2024. No refunds will be honored after November 15, 2024.
Meeting and Hotel Information
The meeting will be held at the American Bank Center located at 1901 N Shoreline Blvd, Corpus Christi, TX 78401. The Omni Hotel has extended a $149 per night group rate based on single/double occupancy for dates of December 1-4. Please book your room. Do not delay as the block can sell out prior to the November 15 deadline and rooms are limited.
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 24 hours of CPE.
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.