Fundamentals of Governmental Accounting and Reporting: Fund Accounting and Financial Statements
The Fundamentals of Governmental Accounting and Reporting: Fund Accounting and Financial Statements course provides a comprehensive overview of how state and local governments apply fund accounting and prepare financial statements. It focuses on the unique accounting principles, reporting models, and financial structures used in governmental environments, helping professionals understand how public resources are tracked and reported.
CPE Credit
7.0 Hours
DELIVERY METHOD
Self-Study (On Demand)
LEVEL
Basic
PREREQUISITES
None
PRICING
$119.50 per year
Course Description
Fundamentals of Governmental Accounting and Reporting: Fund Accounting and Financial Statements introduces the core concepts of governmental accounting, with a focus on fund accounting and financial reporting. This course explains how governments structure funds, apply measurement focus and basis of accounting, and prepare both fund-level and government-wide financial statements.
Through practical examples and real-world applications, accounting professionals will gain a clear understanding of how governmental entities report financial activity, comply with GASB standards, and present transparent financial information to stakeholders.
What You’ll Learn
By the end of this course, you will be able to:
- Understand the governmental accounting environment and the role of GAAP and GASB standards
- Identify the different types of governmental, proprietary, and fiduciary funds
- Apply measurement focus and basis of accounting in fund accounting
- Analyze governmental revenues, expenditures, and budgetary reporting
- Evaluate fund financial statements and government-wide financial statements
- Interpret financial reporting requirements, including ACFR and required supplementary information
Who This Course Is For
This course is designed for:
- CPAs working with state and local government entities
- Accountants responsible for governmental financial reporting
- Auditors with governmental or public sector clients
- Financial professionals transitioning into governmental accounting
- Internal auditors and compliance professionals in the public sector
Key Topics Covered
- Governmental environment and GAAP for public sector accounting
- Fund accounting structure and financial reporting model
- Budgeting processes, encumbrances, and budget-to-actual comparisons
- Measurement focus and basis of accounting (MFBA)
- Governmental fund revenues and expenditures
- Proprietary and fiduciary fund accounting and reporting
- Fund financial statements and major fund reporting
- Government-wide financial statements and reporting entity considerations
- Comprehensive Annual Financial Report (ACFR) and required supplementary information
- Special-purpose governments and component units
Why This Course Matters
Fund accounting and financial statements are central to governmental accounting, requiring a clear understanding of how resources are tracked, reported, and presented under GASB standards. Accounting professionals working with public sector entities must be able to prepare and interpret governmental financial statements accurately to ensure transparency and compliance.
A strong understanding of fund accounting improves the ability to prepare financial statements, support regulatory compliance, and enhance accountability in public sector reporting. For additional guidance on governmental accounting standards and financial reporting practices, professionals may refer to resources published by the Governmental Accounting Standards Board (GASB).
Explore additional Accounting (Governmental) CPE Courses to further strengthen your expertise in governmental accounting and financial reporting.
Pricing & Access
$119.50 per year — Unlimited CPE Access
When you enroll, you receive full access to all courses in our catalog for one full year, including this course and every other available offering.
Unlike many CPE providers, we do not charge by the credit hour and we do not impose course expiration dates. Once you’re enrolled:
- All courses are included — no per-course or per-credit fees
- Your access lasts for a full year from your enrollment date
- Your completed course certificates remain available in your portal
- You can complete courses at your own pace, on your own schedule
This single annual enrollment gives you the flexibility to earn CPE hours when you need them — without worrying about expiring credits or additional costs.
Frequently Asked Questions
Is this course NASBA-compliant?
Yes. This course meets NASBA CPE requirements.
How is the course delivered?
On-demand, self-study format with quizzes for knowledge checks.
Can I complete this course at my own pace?
Yes. You may start, stop, and resume the course as needed.
