Accounting and financial reporting professionals responsible for capital assets.
Virtually all state and local governments use capital assets, some of which are essentially unique to the public sector. Properly accounting for these different assets can pose a real ongoing challenge for accounting and auditing professionals. This two-hour interactive training session will combine lecture and exercises to address a number of commonly encountered practice issues including: capitalizable costs, classification, valuation, lifing, impairments, depreciation, financial statement presentation, disclosure, system design, and inventorying.
Provide participants with a basic understanding of accounting and financial reporting for capital assets of state and local governments.