Preparing A CAFR

Training Type: 
Live Class
Course Status: 
Repeat Offering
Date and Time: 
Mar 9 2021 - 8:30am to 4:30pm  PST

Reno, NV (Renaissance Reno Downtown Hotel)

One South Lake St
Reno, NV 89501
United States
Field of Study: 
Accounting – Governmental
CPE Credits: 
Member Price: 
Non-Member Price: 

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

Director, Technical Services
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 Enterprise Fund Accounting instead. Likewise, individuals interested primarily in pension plans and other postemployment benefit plans are advised to take GFOA's Accounting for Pensions and Other Postemployment Benefits (OPEB).

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.

Updated to include GASB Statement No. 84, Fiduciary Activities; GASB Statement No. 86, Certain Debt Extinguishment Issues; GASB Statement No. 87, Leases; GASB Statement No. 88, Certain Disclosures Related to Debt Including Direct Borrowings and Direct Placements; and GASB Statement No. 91, Conduit Debt Obligations.

Participants may wish to bring a copy of their CAFR to the course. This program is a condensed one-day course of GFOA’s Advanced Financial Reporting.

Seminar Objectives: 

Those who successfully complete the seminar should be able to: 

  • Understand generally accepted accounting principles (GAAP) for state and local government;
  • 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;
  • Prepare required supplementary information;
  • Format combining and individual fund statements; and
  • Prepare required statistical presentations.