Description:
Gain a solid foundation upon which to build your career in federal accounting. Learn the key concepts of Federal Government accounting, including accrual concepts, maintaining accurate journals and journal vouchers, managing accounts and ledgers, running trial balances and adjusting entries, and reading financial statements. This course is part of the Master Certificate in Federal Financial Management (MCFFM).
Duration:
4 days
Level:
Foundational
Who Should Attend?
Federal employees who are engaged in financial management, budgeting and accounting functions and operations and who desire to refresh or expand their understanding of federal funds control, accounting requirements and practices.
Credits:
2.4 CEU's, 32 CPE'sLearning Outcomes:
Apply federal accounting and financial management funds control concepts, standards, procedures and practices Recognize and record budgetary and proprietary accounting transactions in the financial system for the individual financial events resulting from the budget execution of appropriations Use the debit/credit journal entry and “T” account posting processes to simplify and facilitate the accuracy of posting accounting transactions to the United States Standard General Ledger (USSGL) accounts Prepare adjusting entries to properly record financial events in the period incurred (accrual accounting) Prepare closing entries to close out nominal/temporary account balances Prepare working, adjusted, and post-closing trial balances and use them to generate external financial reports Prepare a Balance Sheet using the post-closing trail balance Understand the form and content of agency and governmentwide external financial reports
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Other Recommended Courses:
- Federal Accounting Standards (ACCT7102)
- Advanced Federal Accounting (ACCT8004)
- Government Standard General Ledger (ACCT8100)
- Federal Budgeting, Execution, and Accounting: The Relationship (FINC8300)