- NY Credits : 7.0
- TX Credits : 7.0
Maintaining accounting record and preparing governmental financial statements takes special knowledge in fund accounting. The Governmental Accounting Standards Board (GASB) provides the applicable guidance and standards for governmental entities. This course refers to these standards in providing guidance for accounting and reporting revenues and receivables of governments including nonexchange transactions, property taxes, sales taxes, income and other taxpayer-assessed taxes, special assessments, licenses, permits, fees, fines, forfeits, intergovernmental revenues, contributions, sales and service charges, service concession arrangements, lease revenues and sales and pledges of receivables and future revenues.
This course is most appropriate for the professional with detailed knowledge in governmental accounting who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
recognize the appropriate method of reporting revenue and receivables of governments based on GASBS No. 33 including nonexchange transactions;
identify the accounting of revenue and receivables from property taxes, sales taxes, income taxes and special assessments for governments;
recognize the proper method of accounting and reporting revenue from licenses, permits, fees, fines, forfeits, intergovernmental revenues, contributions, sales and service charges;
determine how to properly record revenue from service concession arrangements and lease revenues; and
identify how to record and report sales and pledges of receivables and future revenues of governmental entities based on GASBS guidance.