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30-Day Money-Back Guarantee

This course includes:

  • 18 hours on-demand video
  • 54 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Assignments
Finance & Accounting Accounting & Bookkeeping Accounting

Governmental Accounting 100

Fund accounting-governmental accounting-General Fund & government-wide activity transactions-modified accrual method
Rating: 4.3 out of 54.3 (124 ratings)
25,104 students
Created by Robert (Bob) Steele
Last updated 6/2019
English
English [Auto]
30-Day Money-Back Guarantee

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

12 sections • 149 lectures • 17h 59m total length

  • Preview07:16
  • Preview00:08
  • Preview08:34
  • 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

  • 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
  • Discussion Question A1
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Preview01:59
  • 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
  • Discussion Question A4
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Discussion Question A5
    1 question
  • Accounting Comic Break
    00:16

  • 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
  • Discussion Question A6
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Discussion Question A7
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Discussion Question A8
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Discussion Question A9
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Discussion Question A10
    1 question
  • Discussion Question A3
    1 question
  • Accounting Comic Break
    00:15

  • 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
  • Discussion Question A11
    1 question
  • Accounting Comic Break
    00:15

Instructor

Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI
Robert (Bob) Steele
  • 4.3 Instructor Rating
  • 14,895 Reviews
  • 308,163 Students
  • 91 Courses

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.  

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).  

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.  

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.  

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.  

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.  

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.  

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.  

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.  

Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy.

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