Fund accounting and reporting intricacies are decoded for accounting professionals and auditors who work with state and local governments. Fund accounting and reporting explained Learning the intricacies of fund accounting and reporting is essential to practitioners working in the governmental environment. You'll gain foundational knowledge that will help you understand the specifics of your work in the governmental field. Topics you'll examine include: - How revenues and expenditures are recognized and recorded in governmental funds - How proprietary funds are used to account for a government’s business-type activities - How governments use fiduciary funds to provide financial information and report the activities of assets held for others Fund financial statements decoded Understanding how fund financial statements are used by governments will also help you when working with state and local governments. You will learn about: - The information fund financial statements provide to users - The ways fund financial statements show how much was received, how much was spent, and how much remains remains - The ways fund financial statements can show how the separate components of a government performed for the year Who Will Benefit - Accounting and finance professionals working in the state and local government environment - Auditors with state and local government clients seeking a refresher in fundamental governmental accounting and reporting concepts Key Topics - Governmental, proprietary, and fiduciary funds - Fund accounting and the financial reporting model - Fund financial statements 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.