Governmental Accounting 100

Governmental Accounting 100

Governmental Accounting 100

Fund accounting-governmental accounting-General Fund & government-wide activity transactions-modified accrual method

Language: english

Note: 4.5/5 (246 notes) 44,953 students

Instructor(s): Robert (Bob) Steele

Last update: 2019-06-20

What you’ll learn

  • Governmental Accounting Objectives & Reporting Requirements
  • Fund Accounting Foundations
  • State & Local Governmental Accounting Principles & Financial Reporting
  • How to Record Transactions for Budgetary Accounts & Encumbrances
  • How to Create & Analyze Governmental Operating Statement Accounts & Budgetary Accounts
  • How to Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
  • How to Record Revenue Transactions in Both the General Fund & Government Wide Level
  • How to Record Tax Anticipation Note & Closing Entries
  • How to Record Transactions to Both the General Fund & Government Wide Level
  • Go to Create Subsidiary Ledgers
  • How to Record Supplies Inventory – Consumption Method & Purchases Method

 

Requirements

  • Understanding of basic accounting terms

 

Description

Governmental accounting, including fund accounting financial transactions, focusing on the general fund and government-wide activities.

We will work through many example problems as we learn the material, posting transactions to a trial balance, so we can see how accounts behave. Many governmental accounts are new to many learners, and we will be using different accounting methods than just an accrual method. Posting transactions and seeing a trial balance will be very helpful in learning the material and is something lacking in most courses on the subject.

We will discuss the governmental accounting objectives and reporting requirements, comparing them to for-profit entities. The course will assume we are familiar with for-profit accounting and will, therefore, focus on the areas of governmental accounting that are different, although we will continue to work with core concepts like the double entry accounting system.

Learners and instructor will examine state and local governmental accounting principles & financial reporting.

We will record transactions for budgetary accounts & encumbrances. Recording budgetary accounts will be new for many learners familiar with financial accounting, but we will use double entry accounting principles for the process.

The course will explain and analyze governmental operating statement accounts & budgetary accounts.

Learners and instructor will record transactions for encumbrances, expenditures, & delinquent receivables. We will emphasize when a modified accrual method will be used, and what the differences in recording financial transactions will be when used, as compared to an accrual method.

We will record transactions related to revenue in both the General Fund and at the government-wide activities level.

The course will discuss tax anticipation notes and how they will be recorded under a modified accrual method.

Learners and instructor will explore many examples of the closing process, closing out temporary accounts. We will compare the closing process for governmental entities to the closing process in for-profit accounting.

We will examine how to create subsidiary ledgers related to revenue, estimated revenue, appropriations, encumbrances, and expenditures.

The course will provide examples of recording supplies using the consumption method and purchases method, explaining the differences between the two.

 

Who this course is for

  • Accounting students
  • CPA Exam Candidates

 

Course content

  • Introduction
    • Introduction
    • PDF – 105 Governmental Accounting Objectives
    • 105 Governmental Accounting Objectives
    • PDF – 106 Governmental Accounting vs Not-For-Profit Accounting
    • 106 Governmental Accounting vs Not-For-Profit Accounting
    • PDF -107 Does Non-Profit Mean Money Does Not Matter
    • 107 Does Non-Profit Mean Money Does Not Matter
    • Multiple Choice Questions – Governmental Accounting A1
    • Accounting Comic Break
  • Governmental Accounting Objectives & Reporting Requirements
    • 2 Governmental Accounting Objectives & Reporting Requirements
    • PDF – 110A Governmental Accounting Objectives
    • 110A Governmental Accounting Objectives
    • PDF – 125A Government Financial Reporting Requirements
    • 125A Government Financial Reporting Requirements
    • PDF – 130A Federal Government Financial Reporting Overview
    • 130A Federal Government Financial Reporting Overview
    • Multiple Choice Questions – Governmental Accounting A2
    • Discussion Question A1
    • Accounting Comic Break
  • State & Local Governmental Accounting Principles & Financial Reporting
    • 3 State & Local Governmental Accounting Principles & Financial Reporting
    • PDF – 140B State & Local Governmental Accounting Objectives, Primary Users, &
    • 140B State & Local Governmental Accounting Objectives, Primary Users, & Useful
    • PDF – 150B State & Local Governmental Accounting Supplemental Information
    • 150B State & Local Governmental Accounting Supplemental Information
    • PDF – 160B State & Local Governmental Accounting Elements of Financial Statement
    • 160B State & Local Governmental Accounting Elements of Financial Statements
    • PDF – 170B State & Local Governmental Accounting Financial Reporting Model
    • 170B State & Local Governmental Accounting Financial Reporting Model
    • PDF – 180B State & Local Governmental Accounting Fund Reporting
    • 180B State & Local Governmental Accounting Fund Reporting
    • Multiple Choice Questions – Governmental Accounting A3
    • Discussion Question A4
    • Accounting Comic Break
  • Record Transactions for Budgetary Accounts & Encumbrances
    • 4 Record Transactions for Budgetary Accounts & Encumbrances
    • PDF – 3022 Estimated Revenues & Expenditures
    • 3022 Estimated Revenues & Expenditures
    • Excel Worksheet Download
    • Worksheet – 3022 Estimated Revenues & Expenditures
    • PDF – 3023 Encumbrances
    • 3023 Encumbrances
    • Excel Worksheet Download
    • Worksheet – 3023 Encumbrances
    • PDF – 3024 Encumbrances, Expenditures, & Subsidiary Ledgers
    • 3024 Encumbrances, Expenditures, & Subsidiary Ledgers
    • Excel Worksheet Download
    • Worksheet – 3024 Estimates, Encumbrances & Expenditures
    • PDF – 3027 Statement of Activities
    • 3027 Statement of Activities
    • Excel Worksheet Download
    • Worksheet – 3027 Statement of Activities
    • Multiple Choice Questions – Governmental Accounting B4
    • Discussion Question A5
    • Accounting Comic Break
  • Governmental Operating Statement Accounts & Budgetary Accounts
    • 5 Governmental Operating Statement Accounts & Budgetary Accounts
    • PDF – 190C Governmental Operating Statement Accounts Government-Wide Expenses &
    • 190C Governmental Operating Statement Accounts Government-Wide Expenses & Revenu
    • PDF – 200C Governmental Funds Characteristics
    • 200C Governmental Funds Characteristics
    • PDF – 210C Budgetary Accounts
    • 210C Budgetary Accounts
    • PDF – 220C Fund Balance Sheet & Operating Statement Accounts Budgetary Accounts
    • 220C Fund Balance Sheet & Operating Statement Accounts Budgetary Accounts
    • PDF – 230C Revenue Sources & Classifications
    • 230C Revenue Sources & Classifications
    • PDF – 240C Encumbrances & Expenditures
    • 240C Encumbrances & Expenditures
    • Multiple Choice Questions – Governmental Accounting B5
    • Discussion Question A6
    • Accounting Comic Break
  • Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
    • 6 Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
    • PDF – 4018 Encumbrances & Expenditures
    • 4018 Encumbrances & Expenditures
    • Excel Worksheet Download
    • Worksheet – 4018 Encumbrances & Expenditures
    • PDF – 4019 Deferred Inflows & Delinquent Receivables
    • 4019 Deferred Inflows & Delinquent Receivables
    • Excel Worksheet Download
    • Worksheet – 4019 Receivables Delinquent & Differed Inflows
    • Multiple Choice Questions – Governmental Accounting B6
    • Discussion Question A7
    • Accounting Comic Break
  • Record Revenue Transactions in Both the General Fund & Government Wide Level
    • 7 Record Revenue Transactions in Both the General Fund & Government Wide Level
    • PDF – 4020 Revenue General Fund & Government Wide
    • 4020 Revenue General Fund & Government Wide
    • Excel Worksheet Download
    • Worksheet – 4020 Revenue General Fund & Government Wide
    • Multiple Choice Questions – Governmental Accounting B7
    • Discussion Question A8
    • Accounting Comic Break
  • Record Tax Anticipation Note & Closing Entries
    • 8 Record Tax Anticipation Note & Closing Entries
    • PDF – 4021 Tax Anticipation Note
    • 4021 Tax Anticipation Note
    • Excel Worksheet Download
    • Worksheet – 4021 Tax Anticipation Note
    • PDF – 4022 Closing Entries General Fund
    • 4022 Closing Entries General Fund
    • Excel Worksheet Download
    • Worksheet – 4022 Closing Entries – General Fund
    • Multiple Choice Questions – Governmental Accounting B8
    • Discussion Question A9
    • Accounting Comic Break
  • Record Transactions to Both the General Fund & Government Wide Level
    • 9 Record Transactions to Both the General Fund & Government Wide Level
    • PDF – 4024 General Fund & Government Wide Activity
    • 4024 General Fund & Government Wide Activity
    • Excel Worksheet Download
    • Worksheet – 4024 General & Governmental Wide Activity Part 1
    • Worksheet – 4024 General & Governmental Wide Activity Part 2
    • Multiple Choice Questions – Governmental Accounting B9
    • Discussion Question A10
    • Discussion Question A3
    • Accounting Comic Break
  • Subsidiary Ledgers
    • 10 Subsidiary Ledgers
    • PDF – 4025 Subsidiary Ledgers Revenue & Estimated Revenue
    • 4025 Subsidiary Ledgers Appropriations, Expenditures, & Encumbrances
    • PDF 4025 Subsidiary Ledgers Appropriations, Expenditures, & Encumbrances
    • 4025 Subsidiary Ledgers Revenue & Estimated Revenue
    • Multiple Choice Questions – Governmental Accounting B10
    • Multiple Choice Questions – Governmental Accounting B13
    • Discussion Question A11
    • Accounting Comic Break
  • Supplies Inventory – Consumption Method & Purchases Method
    • 11 Supplies Inventory – Consumption Method & Purchases Method
    • PDF – 4026 Supplies Inventory Consumption Method
    • 4026 Supplies Inventory Consumption Method
    • PDF – 4026.5 Supplies Inventory Purchases Method
    • 4026.5 Supplies Inventory Purchases Method
    • PDF – 4026.7 Supplies Inventory Purchases Method vs Consumption Method
    • 4026.7 Supplies Inventory Purchases Method vs Consumption Method
    • Excel Worksheet Download
    • Worksheet – 4026 Consumption Method vs Purchases Method
    • PDF – 4026.9 Supplies Inventory Government Wide
    • 4026.9 Supplies Inventory Government Wide
    • PDF – 4027 Financial Statements General Fund
    • 4027 Financial Statements General Fund
    • Multiple Choice Questions – Governmental Accounting B11
    • Multiple Choice Questions – Governmental Accounting B12
    • Discussion Question A12
    • Discussion Question A2
    • Accounting Comic Break
  • Comprehensive Problem
    • 12 Comprehensive Problem
    • Excel Worksheet Download
    • Worksheet G1
    • Excel Worksheet Download
    • Worksheet G2
    • Excel Worksheet Download
    • Worksheet G3
    • Excel Worksheet Download
    • Worksheet G4
    • Worksheet G4.5
    • Excel Worksheet Download
    • Worksheet G5
    • Worksheet G5.5
    • Excel Worksheet Download
    • Worksheet G6
    • Excel Worksheet Download
    • Worksheet G7
    • Excel Worksheet Download
    • Worksheet G8
    • Excel Worksheet Download
    • Worksheet G9
    • Excel Worksheet Download
    • Worksheet G10

 

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