Description

This course is part of AGA’s Federal Financial Management Course Library and is presented by Ross E. Simms, Jr., CPA. Significant differences exist among federal, state/local, and commercial financial statements. If you are transitioning to a career in the federal government or wish to better understand the finances of the U.S. federal government, this course will help you identify unique aspects of federal financial statements. In addition to the financial statements, you will be introduced to the significant differences between budgetary and financial accounting.

During the course, you will review generic and actual federal financial statements. Most importantly, you will learn why federal financial statements differ from others.  

This course is designed for financial professionals at all levels. It is not designed for non-financial professionals.

Learning Objectives

• describe the federal budgetary and financial accounting framework including principal financial statements presented in both component reporting entity and government-wide financial reports.
• identify:
  • the unique aspects of federal financial statements and the underlying reasons for those differences, and 
  • major conceptual differences between budgetary and financial accounting objectives and frameworks.

CPE Details:

Prerequisites: none

Program level: basic

Advance preparation: none

Delivery method: QAS Self Study

Field of study: Accounting

AGA is registered is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website at www.nasbaregistry.org. National Registry of CPE Sponsor ID: 104201.

Course access:

Online access is required to view this course, and videos may not be downloaded. Access to this course will expire 90 days from the date of purchase or if the final assessment is taken three times.