Advanced Financial Reporting

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