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Elected Official's Guides
Financial Indicators Database
The Role of Budgets in Governmental Accounting & Fin Report
Date and Time:
Jul 15 2020 - 02:00pm to 04:00pm EDT
This course will provide participants with a conceptual foundation as to the role of budgets in governmental accounting, along with the concepts and terminology necessary to understand generally accepted accounting principles (GAAP) accounting and financial reporting requirements related to budgets.
Those who successfully complete this seminar should be able to:
Articulate the important role budgets play in government and differences between public- and private-sector budgets;
Identify the legal level of budgetary control applicable to a government, fund, program, or function;
Understand, in general terms, the differences between actual results reported on a budgetary basis and on GAAP, and categorize them based on the basis, entity, perspective, and timing differences;
Identify original and final amended budgets based on a timing of legislative budgetary activity;
Identify the locations in GAAP financial reports and comprehensive annual financial reports of mandatory and supplementary budgetary comparisons; and
Identify the required and recommended elements of mandatory and supplementary budgetary comparisons.
Field of Study:
Accounting – Governmental
Michele Mark Levine Director, Technical Services GFOA
Who Will Benefit:
Those new to governmental accounting and financial reporting, including those who will be involved in financial statement audits of state and local governments, or those wanting a review of these core concepts. This session is also appropriate for those who work with government budgets and want a basic understanding of the relationship between budgets and accounting.
7/15/2020 2:00 PM - 4:00 PM
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