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Course Details

Governmental Accounting and Reporting - v12 (Course Id 1351)

QAS / Registry
  Add to Cart 
Author : Jae K. Shim, Ph.D., CPA
Course Length : Pages: 93 ||| Review Questions: 34 ||| Final Exam Questions: 40
CPE Credits : 8.0
IRS Credits : 0
Price : $71.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry
Technical Designation: Technical
Primary Subject-Field Of Study:

Accounting (Governmental) - Accounting (Governmental) for Course Id 1351

Description :

This course on accounting for governmental entities is intended to be used by anyone who would like to gain knowledge of accounting and financial reporting currently recommended for state and local governmental units. The course provides an overview of (1) the fundamental concepts underlying state and local governmental accounting and reporting, (2) the importance of budgetary accounting in government, and (3) the recognition rules and journal entries related to governmental financing. It also describes (1) the accounts and journal entries related to transactions specific to governmental entities, (2) the process of defining the governmental reporting entity, (3) the components of the comprehensive annual financial report (CAFR), (4) the reporting requirements for government- wide and fund-based financial statements, and (5) other required information in the CAFR. 

Usage Rank : 24688
Release : 2022
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 13-Jan-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - 1351

Keywords : Accounting, Governmental, Accounting, Reporting, v12, cpe, cpa, online course
Learning Objectives :

Chapter 1
Fundamentals of Governmental Accounting and Financial Reporting

After studying this chapter, you will be able to:
    1. Identify unique features of the governmental environment.
    2. Recognize major concepts of governmental accounting.
    3. Identify basic concepts for financial reporting in governmental accounting.
    4. Recognize the differences between the various governmental fund types.

Chapter 2
Special Funds and Financial Reporting Models

After studying this chapter, you will be able to:
    1. Recognize the basic differences in financial reporting requirements of the different fund types.
    2. Identify how governmental funds are reported and rules for separate reporting as major funds.
    3. Recognize key elements of government-wide financial statements.
Course Contents :

Chapter 1:    Fundamentals of Governmental Accounting and Financial Reporting

Learning Objectives

Unique Features of Government

Characteristics of Nonbusiness Entities

Differences between Governmental and Private Sector Accounting

Accounting Method

Background of Governmental Accounting Standards

Role of the Budget

Auditing Governmental Entities

Fund Accounting

Basic Rules

Types of Funds

Basis of Accounting and Measurement Focus

Accrual Basis

Modified Accrual Basis

Financial Statements



Chapter 1 Review Questions - Section 1

Revenue Recognition

Property Taxes

Interest on Investments and Delinquent Taxes

Income Taxes and Sales Taxes

Miscellaneous Revenue

Grants, Entitlements, and Shared Revenue

Chapter 1 Review Questions - Section 2

Expenditure Accounting

The Expenditure Process

Outstanding Encumbrances

Accounting for Inventories

Purchase Method

Consumption Method

Accounting for Fixed Assets

Basic Rules

Works of Art and Historical Treasures

Asset Retirement Obligations

Long-Term Debt

Lease Accounting


Interfund Activities


Services Provided and Used



Comprehensive Illustration of General Funds

Adoption of the Budget

Property Tax

Other Revenue


Acquisition of Capital Asset

Interfund Activities

Adjusting Entries

Closing Entries

Financial Statements

Chapter Summary

Chapter 1 Review Questions - Section 3

Chapter 2:   Special Funds and Financial Reporting Models

Learning Objectives


Special Revenue Funds

Capital Projects Funds

Comprehensive Illustration of Capital Project Funds

Receipts of Resources

Encumbrances, Expenditures and Disbursement of Resource

Closing Entries

Debt Service Funds

Comprehensive Illustration of Debt Service Funds


Revenue Recognition


Closing Entries

Chapter 2 Review Questions - Section 1

Permanent Funds

Comprehensive Illustration of Permanent Funds

Investment and Interest


Major Fund Reporting Requirements

Basic Rules

10 Percent Criterion Tests

5 Percent Criterion Tests

Proprietary Funds

Basic Rules

Enterprise Funds

Comprehensive Illustration of Enterprise Funds

Chapter 2 Review Questions - Section 2

Internal Service Funds

Comprehensive Illustration of Internal Service Funds

Fiduciary Funds

Basic Rules

Trust Funds

Custodial Funds

The Comprehensive Annual Financial Report

Basic Rules

Government-wide Financial Statements

Reconciliation Schedules

Budgetary Comparison Schedule

Management's Discussion and Analysis

Notes to the Government-wide Financial Statements

Comprehensive Illustration of Note Disclosures Related to Debt

Additional Considerations

Special-Purpose Governmental Entities

Government Combinations

Nonexchange Financial Guarantees

Pensions and Other Postemployment Benefits Plans

Chapter Summary

Chapter 2 Review Questions - Section 3

Appendix: Four Major Issues of the Government Reporting Model


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