Basic understanding of private-sector accounting and financial reporting.
Accountants and auditors new to the public sector.
Accountants and auditors new to the public sector must immediately face the daunting challenge of familiarizing themselves with the highly specialized rules, guidelines, and practices applicable to state and local governments.
This is the fourth in a series of seven internet sessions, intended for those who already possess at least a basic knowledge of private-sector accounting, to help newcomers make this difficult, but essential, transition.
This session addresses proprietary fund type accounting and financial reporting.
Those who successfully complete this seminar should obtain a solid understanding of each of the following:
- Enterprise funds,
- Internal service funds,
- Proprietary fund statement of net position,
- Proprietary fund statement of revenues, expenses and changes in net position, and
- Proprietary fund statement of cash flows.