Updated guidance related to financial reporting, auditing procedures and compliance, including the latest standards issued by FASB, ASB, ARSC, and other bodies, is covered for accountants and auditors.
Learning Objectives
- Learning Outcomes
- Identify the governmental fund types and fund categories.
- Identify how revenues and expenditures are recognized and recorded in governmental funds.
- Recognize how proprietary funds are used to account for a government business-type activity.
- Recognize how governments use trust and custodial funds to report the activities of assets held for others.
- Identify how governments often make resource allocation decisions by fund.
- Recognize that governments must provide financial information by funds to demonstrate accountability.
