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 last 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 note disclosures to the basic financial statements, budgetary comparison reporting, and required supplementary information, and provides an overview of a comprehensive annual financial report.
Those who successfully complete this seminar should obtain a solid understanding of each of the following:
- Note disclosures that accompany (and are a part of) the basic financial statements,
- Budgetary comparison reporting,
- Required supplementary information, and
- Elements of a comprehensive annual financial report (CAFR).