Governmental Accounting 100
4.2 (70 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
15,053 students enrolled

Governmental Accounting 100

Fund accounting-governmental accounting-General Fund & government-wide activity transactions-modified accrual method
4.2 (70 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
15,053 students enrolled
Last updated 6/2019
English
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This course includes
  • 18 hours on-demand video
  • 54 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
  • Certificate of Completion
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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
Expand all 149 lectures 17:59:41
+ Introduction
9 lectures 41:25
PDF - 106 Governmental Accounting vs Not-For-Profit Accounting
00:08
106 Governmental Accounting vs Not-For-Profit Accounting
10:05
PDF -107 Does Non-Profit Mean Money Does Not Matter
00:08
107 Does Non-Profit Mean Money Does Not Matter
08:39
Multiple Choice Questions – Governmental Accounting A1
06:12
Accounting Comic Break
00:15
+ Governmental Accounting Objectives & Reporting Requirements
9 lectures 22:25
2 Governmental Accounting Objectives & Reporting Requirements
01:09
PDF - 110A Governmental Accounting Objectives
00:08
110A Governmental Accounting Objectives
09:04
PDF - 125A Government Financial Reporting Requirements
00:08
125A Government Financial Reporting Requirements
06:20
PDF - 130A Federal Government Financial Reporting Overview
00:08
130A Federal Government Financial Reporting Overview
01:15
Multiple Choice Questions – Governmental Accounting A2
03:58
Compare general purpose governments & special purpose governments.
Discussion Question A1
1 question
Accounting Comic Break
00:15
+ State & Local Governmental Accounting Principles & Financial Reporting
13 lectures 38:06
3 State & Local Governmental Accounting Principles & Financial Reporting
00:55
PDF - 140B State & Local Governmental Accounting Objectives, Primary Users, &
00:08
140B State & Local Governmental Accounting Objectives, Primary Users, & Useful
04:26
PDF - 150B State & Local Governmental Accounting Supplemental Information
00:08
PDF - 160B State & Local Governmental Accounting Elements of Financial Statement
00:08
160B State & Local Governmental Accounting Elements of Financial Statements
04:41
PDF - 170B State & Local Governmental Accounting Financial Reporting Model
00:08
170B State & Local Governmental Accounting Financial Reporting Model
07:50
PDF - 180B State & Local Governmental Accounting Fund Reporting
00:08
180B State & Local Governmental Accounting Fund Reporting
11:03
Multiple Choice Questions – Governmental Accounting A3
06:17
List and explain the difference between comprehensive annual financial reports (CAFR) & GASB general purpose external financial reporting for state and local governments.
Discussion Question A4
1 question
Accounting Comic Break
00:15
+ Record Transactions for Budgetary Accounts & Encumbrances
19 lectures 02:05:53
4 Record Transactions for Budgetary Accounts & Encumbrances
02:07
PDF - 3022 Estimated Revenues & Expenditures
00:08
3022 Estimated Revenues & Expenditures
07:17
Excel Worksheet Download
00:05
Worksheet - 3022 Estimated Revenues & Expenditures
10:51
PDF - 3023 Encumbrances
00:08
3023 Encumbrances
05:36
Excel Worksheet Download
00:05
Worksheet - 3023 Encumbrances
06:38
PDF - 3024 Encumbrances, Expenditures, & Subsidiary Ledgers
00:08
3024 Encumbrances, Expenditures, & Subsidiary Ledgers
22:09
Excel Worksheet Download
00:05
Worksheet - 3024 Estimates, Encumbrances & Expenditures
41:43
PDF - 3027 Statement of Activities
00:08
3027 Statement of Activities
08:11
Excel Worksheet Download
00:05
Worksheet - 3027 Statement of Activities
15:12
Multiple Choice Questions – Governmental Accounting B4
05:01
Compare the terms fiscal accountability and operational accountability and the accounting basis used for each.
Discussion Question A5
1 question
Accounting Comic Break
00:16
+ Governmental Operating Statement Accounts & Budgetary Accounts
15 lectures 51:32
5 Governmental Operating Statement Accounts & Budgetary Accounts
01:06
PDF - 190C Governmental Operating Statement Accounts Government-Wide Expenses &
00:08
190C Governmental Operating Statement Accounts Government-Wide Expenses & Revenu
05:40
PDF - 200C Governmental Funds Characteristics
00:08
200C Governmental Funds Characteristics
10:29
PDF - 210C Budgetary Accounts
00:08
210C Budgetary Accounts
03:41
PDF - 220C Fund Balance Sheet & Operating Statement Accounts Budgetary Accounts
00:08
220C Fund Balance Sheet & Operating Statement Accounts Budgetary Accounts
12:04
PDF - 230C Revenue Sources & Classifications
00:08
230C Revenue Sources & Classifications
04:30
PDF - 240C Encumbrances & Expenditures
00:08
240C Encumbrances & Expenditures
06:33
Multiple Choice Questions – Governmental Accounting B5
06:26
Discuss the components of the comprehensive annual financial report (CAFR)
Discussion Question A6
1 question
Accounting Comic Break
00:15
+ Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
11 lectures 01:15:26
6 Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
01:28
PDF - 4018 Encumbrances & Expenditures
00:08
4018 Encumbrances & Expenditures
07:53
Excel Worksheet Download
00:05
Worksheet - 4018 Encumbrances & Expenditures
20:20
PDF - 4019 Deferred Inflows & Delinquent Receivables
00:08
4019 Deferred Inflows & Delinquent Receivables
17:18
Excel Worksheet Download
00:05
Worksheet - 4019 Receivables Delinquent & Differed Inflows
21:56
Multiple Choice Questions – Governmental Accounting B6
05:50
Describe the general financial statements required by GASB standards.
Discussion Question A7
1 question
Accounting Comic Break
00:15
+ Record Revenue Transactions in Both the General Fund & Government Wide Level
7 lectures 01:03:55
7 Record Revenue Transactions in Both the General Fund & Government Wide Level
01:43
PDF - 4020 Revenue General Fund & Government Wide
00:08
4020 Revenue General Fund & Government Wide
15:57
Excel Worksheet Download
00:05
Worksheet - 4020 Revenue General Fund & Government Wide
32:34
Multiple Choice Questions – Governmental Accounting B7
13:13
List and explain the three major activity categories of a state or local government.
Discussion Question A8
1 question
Accounting Comic Break
00:15
+ Record Tax Anticipation Note & Closing Entries
11 lectures 50:58
8 Record Tax Anticipation Note & Closing Entries
01:08
PDF - 4021 Tax Anticipation Note
00:08
4021 Tax Anticipation Note
05:10
Excel Worksheet Download
00:05
Worksheet - 4021 Tax Anticipation Note
09:58
PDF - 4022 Closing Entries General Fund
00:08
4022 Closing Entries General Fund
15:38
Excel Worksheet Download
00:05
Worksheet - 4022 Closing Entries – General Fund
10:54
Multiple Choice Questions – Governmental Accounting B8
07:29
Contrast revenue and other financing sources.
Discussion Question A9
1 question
Accounting Comic Break
00:15
+ Record Transactions to Both the General Fund & Government Wide Level
8 lectures 01:40:22
9 Record Transactions to Both the General Fund & Government Wide Level
01:08
PDF - 4024 General Fund & Government Wide Activity
00:08
4024 General Fund & Government Wide Activity
25:13
Excel Worksheet Download
00:05
Worksheet - 4024 General & Governmental Wide Activity Part 1
38:00
Worksheet - 4024 General & Governmental Wide Activity Part 2
29:38
Multiple Choice Questions – Governmental Accounting B9
05:55
Compare the terms expense and expenditure.
Discussion Question A10
1 question
Discuss accountability as it relates to financial reporting for governments.
Discussion Question A3
1 question
Accounting Comic Break
00:15
+ Subsidiary Ledgers
8 lectures 31:33
10 Subsidiary Ledgers
01:06
PDF - 4025 Subsidiary Ledgers Revenue & Estimated Revenue
00:08
4025 Subsidiary Ledgers Appropriations, Expenditures, & Encumbrances
10:32
PDF 4025 Subsidiary Ledgers Appropriations, Expenditures, & Encumbrances
00:08
4025 Subsidiary Ledgers Revenue & Estimated Revenue
05:35
Multiple Choice Questions – Governmental Accounting B10
04:35
Multiple Choice Questions – Governmental Accounting B13
09:14
Define encumbrance and how it is used.
Discussion Question A11
1 question
Accounting Comic Break
00:15