Basic understanding of private-sector accounting and financial reporting.
Accounting and auditing professionals involved with enterprise funds or stand-alone business-type activities.
Updated to include GASB Statement No. 86, Certain Debt Extinguishment Issues; GASB Statement No. 88, Certain Disclosures Related to Debt Including Direct Borrowings and Direct Placements; GASB Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period; and GASB Statement No. 91, Conduit Debt Obligations.
This seminar is designed to familiarize participants with features of accounting and financial reporting for enterprise funds and stand-alone business-type activities that differ from private sector theory and practice.
- Capital asset impairments;
- Debt issuance, classification, and refunding;
- Pensions and other postemployment benefits;
- Compensated absences;
- Tap fees, impact fees, payments in lieu of taxes;
- Optional specialized accounting for regulated industries;
- Service concession arrangements (public/private partnerships - P3's);
- Allocation of primary government liabilities;
- Acquiring capital assets within the same reporting entity; and
- Reclassifications needed for stand-alone reporting.
It also familiarizes participants with the format and contents of a comprehensive annual financial report (CAFR) for an enterprise fund or stand-alone business-type activity 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.