- NY Credits : 10.0
- TX Credits : 10.0
Governmental external financial reporting serves two purposes. First, these reports outline accountability for public tax dollars and the services that are funded by these resources. Second, external reporting also provides governments with the opportunity to communicate with their constituents, highlighting the results of operations, the government's financial position, and most importantly, providing a vital framework for future decisions about programs and services. This program outlines the basic governmental reporting guidelines and offers suggestions for adding value to the external communications about the government's financial position.
Upon successful completion of Governmental Financial Reporting, the user should be able to:
recognize the governmental financial reporting framework and the underlying objectives for providing accountability and communicating with constituents,
identify the reporting requirements for the governmental, proprietary, and fiduciary fund statements and the unique features in the governmental reporting model for fund statement reporting,
recognize the required supplementary information for governmental financial statements and explain the significance of issues addressed in governmental RSI, and
identify other governmental external financial reporting concepts-service efforts and accomplishments, economic condition reporting, requirements for GFOA financial reporting award programs, and popular reporting.