Preparing A CAFR

Training Type: 
Live Training
Course Status: 
Repeat Offering
Date and Time: 
Dec 14 2017 - 8:30am to 4:30pm  EST
Region: 
Eastern
Location: 

Charleston, SC (Hyatt Place/House)

560 King Street
Charleston, SC 29403
United States
Level: 
Intermediate
Field of Study: 
Accounting – Governmental
CPE Credits: 
8
Member Price: 
$370.00
Non-Member Price: 
$550.00
Prerequisite: 

Accounting and financial reporting professionals with at least two years of experience, or who have attended the GFOA’s Intermediate Governmental Accounting seminar or an equivalent program.

Who Will Benefit: 

Accounting and financial reporting professionals who have prepared, or wish to be able to prepare, a comprehensive annual financial report (CAFR) for a state or local government.

Note: Individuals interested primarily in enterprise funds and stand-alone business-type activities are advised to take GFOA’s Accounting and Financial Reporting for Enterprise Funds instead. Likewise, individuals interested primarily in pension plans and other postemployment benefit plans are advised to take the specialized seminar that focuses on them.

Program Description: 

The program is designed to familiarize participants with the format and contents of a CAFR prepared in accordance with both generally accepted accounting principles (GAAP) and the program requirements of the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting Program.

Note: This program is a condensed form of the GFOAs two-day seminar on Advanced Financial Reporting. Individuals who have taken that seminar should not enroll in this one.

PARTICIPANTS ARE ENCOURAGED TO BRING WITH THEM A COPY OF THEIR GOVERNMENT’S CAFR (OR A COPY OF THEIR AUDITED FINANCIAL STATEMENTS IF THEIR GOVERNMENT DOES NOT YET ISSUE A CAFR).

Seminar Objectives: 

Those who successfully complete the seminar should be able to:

  • Identify the three basic sections of a CAFR and the essential components of each;
  • Differentiate basic financial statements, required supplementary information, and other supplementary information within a CAFR;
  • Identify the basic elements of a letter of transmittal;
  • Identify the appropriate elements to include in management’s discussion and analysis;
  • Format each of the basic financial statements;
  • Classify data in each of the basic financial statements;
  • Properly apply commonly misunderstood note disclosure requirements;
  • Format combining and individual fund statements; and
  • Prepare required statistical presentations.