Government Financial Manager (GFM) Training Program Course Descriptions
Course 1: Governmental Environment
Course 2: Governmental Accounting, Financial Reporting
and Budgeting
Course 3: Governmental
Financial Management and Control
Course 1: Governmental Environment
T
his course
describes the unique aspects of government and how those aspects differ from
the private sector and nonprofit organizations. It is designed for
accountants, auditors, budget professionals and controllers in government as
well as academics and other professionals who have an interest in
government. It is particularly appropriate for newly hired professionals.
Upon completing this course, you will have an
understanding of:
- how governments are organized and structured;
- the legal aspects of governments;
- the importance of the budget process;
- the management cycle, and how the various stages
are interrelated;
- how governments are financed;
- the role and structure of taxes;
- the purposes for issuing debt;
- what it means to be publicly accountable;
- the importance of ethics in government;
- specific skills and responsibilities of
financial managers.
Course Content
The course consists of the following chapters:
1. Organization and structure of government.
2. Legal and other environmental aspects of
government.
3. Interrelationships among planning, programming,
budgeting, operations, accounting, reporting and auditing.
4. Governmental financing process.
5. Public accountability.
6. Ethics in government.
7. Financial management responsibilities and
skills.
Prerequisite
s:
None
Advance Preparation:
None
Course Level:
Basic
Delivery Method:
Lecture, group discussion and exercises
Length:
One day
CPE Credit:
8
hours
___________________________________________
Course 2: Governmental Accounting, Financial
Reporting and Budgeting
T
his course
covers the general principles of governmental accounting, financial
reporting, performance measures and budgeting. It also covers the unique
aspects of accounting and reporting for the federal government as well as
state and local governments. It is designed for accountants, auditors,
budget professionals and controllers in government as well as academics and
other professionals who have an interest in government. It is particularly
appropriate for newly hired professionals.
Upon completing this course, you will have an
understanding of:
- the characteristics and differences of the
government environment that necessitate the unique accounting and
financial reporting;
- the process of setting accounting and financial
reporting standards for government entities;
- the bases of accounting and measurement focuses
used by governments;
- fiscal accountability;
- exchange and nonexchange transactions;
- the uses of cost accounting in government;
- performance measures;
- budgeting in government;
- accounting and reporting in state and local
governments, including:
- determining the financial reporting entity;
- fund accounting and reporting;
- governmentwide accounting and reporting;
- accounting and reporting for specific
transactions.
- accounting and reporting for the federal
government, including:
- federal budgeting;
- budgetary accounting;
- federal financial accounting foundations;
- the federal financial statements, notes, and
supplementary reporting;
- accounting and reporting for specific
transactions.
Course Content
The course consists of the following chapters:
1. Influences, concepts of financial reporting, and
standards-setting.
2. General principles.
3. Cost accounting and performance reporting.
4. Budgeting.
5. Accounting and reporting for state and local
governments
a. Accounting standards and financial reporting.
b. Fund accounting and reporting.
c. Governmentwide financial reporting.
d. Accounting and reporting for specific asset and
liability transactions.
e. Revenue, expenditure/expense and other operating
statement transactions.
6. Federal budgeting and financial reporting.
a. Federal budgeting.
b. Federal budgetary accounting.
c. Federal financial accounting and reporting
foundations.
d. Federal financial statements and management’s
discussion and analysis.
e. Federal financial accounting standards and
illustrations.
Prerequisites:
None
Advance Preparation:
None
Course Level:
Intermediate
Delivery Method:
Lecture, group discussion and exercises
Length:
Three
days
CPE Credit:
24
hours
________________________________________
Course 3: Governmental Financial Management and
Control
T
his course
covers various financial management functions and controls required of
government financial managers, including internal controls, auditing,
performance measurement, financial analysis techniques and specific
financial management practices used in government. It is designed for
accountants, auditors, budget professionals and controllers in government as
well as academics and other professionals who have an interest in
government. It is particularly appropriate for newly hired professionals.
Upon completing this course, you will have an
understanding of:
- objectives of internal controls, including GAO
and COSO objectives;
- considerations and risks involving internal
controls;
- how to apply internal controls;
- the responsibilities of management and auditors
for internal controls;
- components of internal controls;
- evaluating internal controls;
- types of government audits and their objectives;
- standards for auditors and audits;
- the responsibilities of management and auditors
in the audit process;
- phases of the audit;
- contracting for audits;
- objectives and uses of performance measures;
- elements and characteristics of performance
measures;
- applying various managerial analyses and
techniques;
- the basics of cash management and investment
management;
- managing credit programs and collecting
government debts;
- procurement in government;
- inventory and supply management systems;
- financial management systems.
Course Content
The course consists of the following chapters:
1. Internal controls.
a. The legal and regulatory history of internal
controls.
b. The structure of internal controls.
c. Management responsibilities.
d. Auditor responsibilities.
2. Auditing.
a. What is an audit?
b. Audit standards.
c. Other audit issues.
3. Performance measurement and reporting.
a. Performance measurement environment and
framework.
b. Performance measurement concepts.
c. Illustrations of current practice
4. Financial and managerial analysis techniques.
5. Financial and managerial concepts, controls and
techniques.
a. Cash management.
b. Investment management.
c. Credit management/debt collection.
d. Procurement management.
e. Inventory/supply management.
f. Financial management systems.
Prerequisites:
None
Advance Preparation:
None
Course Level:
Intermediate
Delivery Method:
Lecture, group discussion and exercises
Length:
Two
days
CPE Credit:
16
hours