Foundations of Governmental Accounting

This course provides a foundational understanding of governmental accounting, exploring the unique principles, structures, and reporting methods used by state and local governments. Designed for individuals with little to no prior experience in the public sector, this course demystifies key concepts like fund accounting, the modified accrual basis, and the role of the Governmental Accounting Standards Board (GASB). Participants will learn how to differentiate between fund-based and government-wide financial statements, providing a solid base for interpreting public sector financial reports. In addition, the course covers the importance of accountability and transparency in government financial management, the classification of governmental funds, and the process of preparing and analyzing basic financial statements. Through practical examples and real-world scenarios, learners will gain the confidence to navigate the complexities of governmental accounting and build a strong foundation for further study or professional advancement in the public sector. CPE Hours: 1.0