Governmental Accounting and Reporting I

Building on the fundamentals, the course introduction and Module 1 provide an overview of the principles and characteristics of governmental and nonprofit accounting. Learners will delve into the specifics of financial statements, GASB reporting model, and the introduction to governmental, proprietary, and fiduciary funds. This module also includes practice quizzes and activities to reinforce learning.

Module 2 focuses on measurement focus, basis of accounting, and financial statements for governmental entities, including government-wide and fund financial statements, major fund reporting, and component units. Learners will gain insights through practice quizzes and comprehensive problems, enhancing their understanding of accounting for governmental entities.

Module 3 provides a detailed exploration of the government-wide statement of activities and introduces learners to governmental fund financial statements. Topics covered include net position, deferred inflow and outflow of resources, and equations for each financial statement. Practice quizzes and comprehensive problems further reinforce learning.

Accounting for governmental operating activities in the general fund is the focus of Module 4. Learners will explore general fund overview, budgetary accounting, journal entries, and accounting for encumbrances, with comprehensive problems to enhance understanding.

Module 5 covers general fund financial statements, accounting for special revenue fund and permanent fund, and accounting for internal and external transactions. Learners will engage in a comprehensive problem and practice quizzes to reinforce learning.

Module 6 delves into general capital assets, capital projects fund accounting, and accounting for general long-term liabilities and debt service. Learners will explore topics such as debt limit, debt service fund, and comprehensive problems to enhance their understanding.

Module 7 focuses on accounting for the business-type activities of state and local governments, covering proprietary fund accounting characteristics, internal service funds, enterprise funds, and practice quizzes to reinforce learning.

Module 8 concludes the course with a focus on the statement of cash flow for proprietary funds and component unit reporting requirements. Learners will explore the differences between FASB and GASB statement of cash flow, engage in practice quizzes, and receive course completion guidance.