CPE Self-Study

Governmental Accounting and Reporting

  • $189.00-$239.00
    Governmental Accounting and Reporting In Stock Product #: 746291
    AICPA Member: $189.00
    Non-Member: $239.00
  • $159.00-$199.00
    Governmental Accounting and Reporting Online Access Product #: 163722
    AICPA Member: $159.00
    Non-Member: $199.00
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    Contact a representative for group pricing. 800.634.6780 (Option 1) | Contact Us Product #: GT-GAR

This CPE course is excellent for those familiar with fundamental state and local governmental concepts, who are looking to perform an in-depth review of fundamentals, such as how to prepare Agency Fund, Internal Service Fund, Investment Trust Fund, and Special Revenue Fund financial statements.

This course also offers an opportunity for those not familiar with fundamental state and local governmental concepts to learn the basics of governmental accounting and reporting.

Learning Objectives

This course will prepare you to:

  • Recognize the fund structure used by state and local governments
  • Differentiate between the various Measurement Focuses and Bases of Accounting (MFBA) used in governmental financial statement
  • Recognize key fund accounting transactions and events
  • Identify the components of the capital assets and long-term liabilities note disclosures
  • Identify the complexities of eliminating the internal service funds before preparing the government-wide financial statement
  • Prepare the government-wide financial statements and required reconciliations using the conversion worksheets and enterprise fund financial statements

Key Topics

  • Foundations of governmental accounting
  • Fund accounting
  • Preparing the government-wide financial statements
  • Note disclosures
  • Deferred outflows of resources and deferred inflows of resources

Who Will Benefit?

  • Auditors and financial managers responsible for the accounting and reporting of state and local governments, agencies, divisions, and teams

Enhanced On-Demand Format

This Enhanced On-Demand Format features audio and voice narration to keep you actively engaged with the course content. Additionally, updated course navigation allows you to easily move throughout the material. For your convenience, a PDF version of the text manual is included for download to use as a reference guide.

System Requirements

About the Authors

G. Robert Smith, Jr., Ph.D., CPA, CGFM

Kurt Miller, CPA

Lee Klumpp, CPA

Bethesda, Maryland

Lee Klumpp is BDO's National Nonprofit & Education Industry Group Audit and Accounting Technical Leader. Lee recently completed a fellowship at the Financial Accounting Standards Board (FASB). During Lee's fellowship, he led the FASB's project to reexamine existing standards for financial statement presentation by not-for-profit entities, focusing on improving the net asset classification requirements and information provided in financial statements and notes about liquidity, financial performance, and cash flows. He also focused on various FASB agenda projects and implementation and emerging practice problems in the nonprofit industry. His responsibilities included making recommendations to the Board on technical issues and developing and drafting Accounting Standards Update.

Lee has 20 years of experience serving a diverse group of nonprofit organizations while working for BDO and previously in the audit practices of Ernst and Young, LLP and KPMG. In his role at BDO, he spends a significant amount of time researching, writing, and disseminating information related to recent accounting and auditing pronouncements promulgated by the FASB, the Governmental Accounting Standards Board (GASB), the Office of Management and Budget, the Government Accountability Office, the Auditing Standards Board, and other groups that provide guidance for the nonprofit industry. Additionally, Lee is an accomplished speaker and has spoken on various not-for-profit accounting, governance auditing, internal control, governance, financial reporting, and single audit issue topics related to nonprofit organizations around the country.

Patricia Duperron, CPA

About the Publisher


About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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