Description:
Gain a solid foundation upon which to build your career in federal accounting. Learn the key concepts of Federal Government accounting, including accrual concepts, maintaining accurate journals and journal vouchers, managing accounts and ledgers, running trial balances and adjusting entries, and reading financial statements. This course is part of the Master Certificate in Federal Financial Management (MCFFM).
Duration:
4 days
Level:
Foundational
Who Should Attend?
Federal employees who are engaged in financial management, budgeting and accounting functions and operations and who desire to refresh or expand their understanding of federal funds control, accounting requirements and practices.
Credits:
2.4 CEU's, 32 CPE's
Learning Outcomes:
Apply federal accounting and financial management funds control concepts, standards, procedures and practices
Recognize and record budgetary and proprietary accounting transactions in the financial system for the individual financial events resulting from the budget execution of appropriations
Use the debit/credit journal entry and “T” account posting processes to simplify and facilitate the accuracy of posting accounting transactions to the United States Standard General Ledger (USSGL) accounts
Prepare adjusting entries to properly record financial events in the period incurred (accrual accounting)
Prepare closing entries to close out nominal/temporary account balances
Prepare working, adjusted, and post-closing trial balances and use them to generate external financial reports
Prepare a Balance Sheet using the post-closing trail balance
Understand the form and content of agency and governmentwide external financial reports
No sessions scheduled
Other Recommended Courses:
ACCT7102
ACCT8004
ACCT8100
FINC8300
