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US State and Local Government Accounting
72 students

US State and Local Government Accounting

U.S. State and Local Government Accounting
Created byDr. Kamal Chhabra (US CPA & CA)
Last updated 1/2026
English
English [Auto],

What you'll learn

  • The structure, functions, and financial operations of U.S. state and local governments.
  • Compliance requirements, regulatory frameworks, and financial accountability.
  • The purpose of government accounting, including transparency, budgeting, and public trust.
  • Understanding accrual vs. modified accrual accounting, fund accounting, and financial reporting standards (GASB).

Course content

5 sections • 5 lectures • 1h 8m total length

  • Overview1:57

    In this video series, you will learn how to perform accounting for state and local governments in the U.S. You will also explore:

    • The key accounting bodies governing public sector financial reporting

    • The purpose of government funds and their objective

Requirements

  • Basic understanding of fundamental accounting concepts such as debits, credits, and financial statements.
  • Academic background in accounting, commerce, or finance (students or graduates preferred).
  • Familiarity with general financial reporting principles and accounting terminology.
  • Interest in learning U.S. accounting practices; no prior knowledge of U.S. government accounting is required.

Description

U.S. State and Local Government Accounting is a foundational course designed to help accounting students and professionals understand how financial reporting works in the U.S. public sector. Government accounting plays a critical role in ensuring transparency, accountability, and compliance in the use of public funds, making it an essential area of knowledge for anyone pursuing a career in accounting or public finance.

This course welcomes students with an accounting background who are eager to expand their understanding beyond corporate accounting into the unique framework of state and local government accounting. From understanding why government accounting exists to how financial information is reported and used, this course builds a strong conceptual base step by step.

You will begin with an overview of the structure and functions of U.S. state and local governments, along with the key accounting bodies that regulate public sector reporting. As the course progresses, you will explore the objectives and usage of government accounting, gaining clarity on how financial data supports budgeting, decision-making, and public trust.

A major focus of this course is on measurement focus and basis of accounting, where you will learn the differences between accrual and modified accrual accounting, and how these methods impact government financial statements. You will also gain a clear understanding of fund accounting, including the purpose of different government funds and the principles that guide their usage.

Through a structured video-based format, the course covers essential topics such as the purpose of government funds, key considerations in fund accounting, and compliance with GASB standards. By the end of the course, learners will be confident in interpreting state and local government financial statements and understanding how public sector accounting supports responsible financial management.

This course is ideal for accounting students, finance professionals, and anyone interested in U.S. government accounting practices.

Who this course is for:

  • Accounting students and commerce graduates who want to understand U.S. State and Local Government Accounting.
  • Accounting and finance professionals seeking practical knowledge of U.S. government accounting practices.
  • Aspirants of U.S. CPA, CMA, and other global accounting certifications.
  • Anyone interested in public finance and government financial reporting, with an accounting background.

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