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Advanced Federal Accounting (ACCT8004)

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Advanced Federal Accounting

Description:

Through extensive illustrations, discussions, and exercises, gain a practical understanding of the legal, administrative funds control and financial reporting requirements that apply to federal agencies. This course provides in-depth coverage of selected federal budget, accounting, and financial management requirements for controlling and proper reporting of the status of federal funds. Attention is given to the recording, reporting, and use of budget and accounting information for both proper financial disclosure and as the basis for decision-making by federal managers.

Duration:

4 days

Level:

Advanced

Who Should Attend?

Federal financial management, budgeting, and accounting personnel who desire to refresh or expand their understanding of federal funds control, accounting requirements, and practices. Participants enrolling for this course should be familiar with accounting principles as taught in Introduction to Federal Accounting (ACCT7001).

Credits:

2.4 CEU's, 32 CPE's

Learning Outcomes:

Understand the components of federal budget and accounting fund controls, proper accountability, and reporting of authorized interagency reimbursement transactions Apply the required budgetary and proprietary accounting standards and procedures for proper funds control, accountability, and disclosure of non-appropriated fund types of activities and/or operations Prepare accrual, adjusting, and closing entries to produce the required status of fund reports and other financial reports Discuss the budget planning and funds control aspects of payroll accounting and financial reporting State some of the essential budget and accounting information needs of the managers of federal agencies, entities, and other nonfederal organizations Explain the interactions of the roles and responsibilities of the Department of Treasury and other federal agencies regarding the perpetual accountability of funds and/or cash of the Federal Government Understand the basic fund control components of financial data sources and how they are used to prepare the required period-end external financial reports

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