Governmental accounting, including fund accounting financial transactions, focusing on the general fund and government-wide activities.
We will work through many example problems as we learn the material, posting transactions to a trial balance, so we can see how accounts behave. Many governmental accounts are new to many learners, and we will be using different accounting methods than just an accrual method. Posting transactions and seeing a trial balance will be very helpful in learning the material and is something lacking in most courses on the subject.
We will discuss the governmental accounting objectives and reporting requirements, comparing them to for-profit entities. The course will assume we are familiar with for-profit accounting and will, therefore, focus on the areas of governmental accounting that are different, although we will continue to work with core concepts like the double entry accounting system.
Learners and instructor will examine state and local governmental accounting principles & financial reporting.
We will record transactions for budgetary accounts & encumbrances. Recording budgetary accounts will be new for many learners familiar with financial accounting, but we will use double entry accounting principles for the process.
The course will explain and analyze governmental operating statement accounts & budgetary accounts.
Learners and instructor will record transactions for encumbrances, expenditures, & delinquent receivables. We will emphasize when a modified accrual method will be used, and what the differences in recording financial transactions will be when used, as compared to an accrual method.
We will record transactions related to revenue in both the General Fund and at the government-wide activities level.
The course will discuss tax anticipation notes and how they will be recorded under a modified accrual method.
Learners and instructor will explore many examples of the closing process, closing out temporary accounts. We will compare the closing process for governmental entities to the closing process in for-profit accounting.
We will examine how to create subsidiary ledgers related to revenue, estimated revenue, appropriations, encumbrances, and expenditures.
The course will provide examples of recording supplies using the consumption method and purchases method, explaining the differences between the two.
Governmental Accounting Objectives & Reporting Requirements
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1Introduction
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2PDF - 105 Governmental Accounting Objectives
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3105 Governmental Accounting Objectives
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4PDF - 106 Governmental Accounting vs Not-For-Profit Accounting
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5106 Governmental Accounting vs Not-For-Profit Accounting
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6PDF -107 Does Non-Profit Mean Money Does Not Matter
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7107 Does Non-Profit Mean Money Does Not Matter
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8Multiple Choice Questions – Governmental Accounting A1
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9Accounting Comic Break
State & Local Governmental Accounting Principles & Financial Reporting
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102 Governmental Accounting Objectives & Reporting Requirements
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11PDF - 110A Governmental Accounting Objectives
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12110A Governmental Accounting Objectives
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13PDF - 125A Government Financial Reporting Requirements
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14125A Government Financial Reporting Requirements
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15PDF - 130A Federal Government Financial Reporting Overview
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16130A Federal Government Financial Reporting Overview
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17Multiple Choice Questions – Governmental Accounting A2
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18Discussion Question A1
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19Accounting Comic Break
Record Transactions for Budgetary Accounts & Encumbrances
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203 State & Local Governmental Accounting Principles & Financial Reporting
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21PDF - 140B State & Local Governmental Accounting Objectives, Primary Users, &
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22140B State & Local Governmental Accounting Objectives, Primary Users, & Useful
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23PDF - 150B State & Local Governmental Accounting Supplemental Information
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24150B State & Local Governmental Accounting Supplemental Information
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25PDF - 160B State & Local Governmental Accounting Elements of Financial Statement
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26160B State & Local Governmental Accounting Elements of Financial Statements
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27PDF - 170B State & Local Governmental Accounting Financial Reporting Model
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28170B State & Local Governmental Accounting Financial Reporting Model
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29PDF - 180B State & Local Governmental Accounting Fund Reporting
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30180B State & Local Governmental Accounting Fund Reporting
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31Multiple Choice Questions – Governmental Accounting A3
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32Discussion Question A4
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33Accounting Comic Break
Governmental Operating Statement Accounts & Budgetary Accounts
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344 Record Transactions for Budgetary Accounts & Encumbrances
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35PDF - 3022 Estimated Revenues & Expenditures
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363022 Estimated Revenues & Expenditures
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37Excel Worksheet Download
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38Worksheet - 3022 Estimated Revenues & Expenditures
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39PDF - 3023 Encumbrances
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403023 Encumbrances
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41Excel Worksheet Download
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42Worksheet - 3023 Encumbrances
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43PDF - 3024 Encumbrances, Expenditures, & Subsidiary Ledgers
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443024 Encumbrances, Expenditures, & Subsidiary Ledgers
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45Excel Worksheet Download
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46Worksheet - 3024 Estimates, Encumbrances & Expenditures
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47PDF - 3027 Statement of Activities
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483027 Statement of Activities
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49Excel Worksheet Download
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50Worksheet - 3027 Statement of Activities
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51Multiple Choice Questions – Governmental Accounting B4
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52Discussion Question A5
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53Accounting Comic Break
Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
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545 Governmental Operating Statement Accounts & Budgetary Accounts
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55PDF - 190C Governmental Operating Statement Accounts Government-Wide Expenses &
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56190C Governmental Operating Statement Accounts Government-Wide Expenses & Revenu
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57PDF - 200C Governmental Funds Characteristics
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58200C Governmental Funds Characteristics
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59PDF - 210C Budgetary Accounts
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60210C Budgetary Accounts
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61PDF - 220C Fund Balance Sheet & Operating Statement Accounts Budgetary Accounts
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62220C Fund Balance Sheet & Operating Statement Accounts Budgetary Accounts
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63PDF - 230C Revenue Sources & Classifications
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64230C Revenue Sources & Classifications
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65PDF - 240C Encumbrances & Expenditures
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66240C Encumbrances & Expenditures
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67Multiple Choice Questions – Governmental Accounting B5
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68Discussion Question A6
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69Accounting Comic Break
Record Revenue Transactions in Both the General Fund & Government Wide Level
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706 Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
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71PDF - 4018 Encumbrances & Expenditures
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724018 Encumbrances & Expenditures
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73Excel Worksheet Download
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74Worksheet - 4018 Encumbrances & Expenditures
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75PDF - 4019 Deferred Inflows & Delinquent Receivables
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764019 Deferred Inflows & Delinquent Receivables
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77Excel Worksheet Download
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78Worksheet - 4019 Receivables Delinquent & Differed Inflows
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79Multiple Choice Questions – Governmental Accounting B6
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80Discussion Question A7
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81Accounting Comic Break
Record Tax Anticipation Note & Closing Entries
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827 Record Revenue Transactions in Both the General Fund & Government Wide Level
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83PDF - 4020 Revenue General Fund & Government Wide
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844020 Revenue General Fund & Government Wide
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85Excel Worksheet Download
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86Worksheet - 4020 Revenue General Fund & Government Wide
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87Multiple Choice Questions – Governmental Accounting B7
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88Discussion Question A8
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89Accounting Comic Break