Accounting Principles in the Federal Government

Prerequisites: At least two semesters of college-level accounting, or equivalent experience.

Learn how the USSGL guides and applies to federal agencies’ budgetary and proprietary accounting and reporting. This course provides an overview of how federal accounting standards of the FASAB are incorporated into guidance from OMB and the Treasury. The course outlines federal accounting and describes the major financial events involved in receiving, distributing and obligating budgetary authority obtained from appropriations and reimbursable transactions. Attendees will learn the actual debit/credit transactions for these events, from receipt of budgetary authority to preparation of financial reports, utilizing OMB Circular A-136 and the USSGL.

Learning Objectives

This course covers:

  • Legal requirements for federal budgetary and proprietary accounting
  • USSGL’s chart of accounts, attributes, transaction codes, crosswalks, validations and edits
  • Basic accounting treatment (debits/credits) for direct appropriations and reimbursable activity
  • Preparation of trial balances, adjusting entries and closing entries
  • Preparation of a balance sheet from OMB and Treasury guidance

Related Courses

  • Basic Federal Accounting Principles
  • CGFM Course 2: Governmental Accounting, Financial Reporting and Budgeting
  • Comprehensive Update on GAAP -- 1 Day
  • Field(s) of Study

    Accounting (Governmental)

    Course Length

    2 days

    Course Level

    Intermediate

    Instructor(s)

    Herko, John

    CPE Hours

    16

    Group Cost

    $9,000
    Questions? onsitecourses@agacgfm.org or 703.684.6931, ext. 303.