- NY Credits : 3.0
- TX Credits : 3.0
Why don't governments use the commercial model of accounting? In addition to answering this question, this program looks at the unique challenges for governmental accounting. This course provides a general overview of fundamental provisions of the statements from the Governmental Accounting Standards Board.
Upon successful completion of this course, the user should be able to:
explain the basic concepts for the specialized provisions of the governmental accounting model,
outline the mission of the Governmental Accounting Standards Board,
determine when governmental accounting principles will apply for specific entities,
explain why fund accounting is a critical component of governmental accounting,
describe the types of funds used in governmental accounting,
summarize the basis of accounting and measurement focus used in each type of fund,
determine what type of fund should be used to record specific governmental programs or services,
establish accounting systems to administer governmental assets, and
discuss the various types of investments for governmental entities.