June 29, 2022


8 Total CPE Credits


Basic Concepts of Governmental Accounting, Financial Reporting and Auditing

Learning Objectives

  • Identify the basics of governmental accounting and financial reporting, including a review of a Comprehensive Annual Financial Report (CAFR).
  • Recall and review GASB Statement No. 34, Basic Financial Statements-and Management's Discussion and Analysis-for State and Local Governments.
  • Recognize governmental auditing issues, including risk assessment and internal controls and the Financial Reporting Entity.
  • Determine requirements for compliance audits.
  • Review separate standards between governmental and business accounting and financial reporting.

Major Topics

  • Governmental environment: cities, counties, special districts and other agencies
  • Fund accounting
  • Budgeting
  • GASB 34 accounting and financial reporting
  • Measurement focus and basis of accounting
  • Auditing of governments: risk assessment and evaluation of internal controls
  • AICPA Auditing Standards
  • Generally Accepted Accounting Principles for government
  • GASB Pension and OPEB Standards including the "Implicit Rate Subsidy"
  • Update GASB's Exposure Draft on Financial Reporting Model Improvements

CPE Credits Available

Total CPE
Accounting & Auditing

Things to Know About This Course



Advanced Preparation


Intended Audience

Professionals in Government and Public Accounting.


California Society of CPAs

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