This course will familiarize you with the basic accounting equation and how transactions affect that equation. You will also learn the elements of financial reports, and be aware of Generally Accepted Accounting Principles (GAAP) and the International Accounting Standards for state and local governments. In addition, you will learn to record financial transactions using the modified accrual basis of accounting used by governmental funds. You will also learn to calculate revenues and expenditure/expenses under both the modified accrual and the accrual bases of accounting. You will enhance your knowledge of financial reporting in state and local governments.
By the end of this training, participants will be able to:
- Apply Central/Local Government accounting, budget and financial management funds control concepts, stardards, procedures and practices.
- Recognize and record budgetary and propriatary accounting transactions in the financial system for the individual financial event.
- Prepare accrual and adjusting entries to produce the period-end trial balance and other financial reports
- Prepare closing entries to produce fiscal year-end financial statements and reports have practical hands on Computerized Accounting with Pastel Accounting.
Accountants, Financial officers, Financial controllers, Internal auditors, Fund Managers, Financial Economic planners, Budgeting Officers, Financial Analysts and other professionals who make financial decisions in public/private sectors