Description

This course is part of AGA’s Federal Financial Management Course Library and is presented by Ross E. Simms, Jr., CPA. The Federal Accounting Standards Advisory Board (FASAB) has been designated as the source for Generally Accepted Accounting Principles (GAAP) for the federal government. This course will introduce you to the FASAB, the process for developing standards, resources for participating in or monitoring the standard-setting process, and sources for guidance on matters not directly addressed by the FASAB.

This course is designed for financial professionals with operational responsibilities. It assumes a basic familiarity with the federal financial reporting framework.

Objectives

After completion of this course, participants will be able to:

• understand how FASAB was established to develop GAAP, the FASAB due process, and how to monitor changes in GAAP.
• Identify the sources of accounting principles and the framework for selecting the principles used in the preparation of general-purpose financial reports of federal reporting entities.

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.