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Governmental and Not-for-profit accounting

This three-day course gives delegates an overview of the concepts of governmental accounting and accounting for not-for profits. For financial and non-financial professionals and officers working at the government and not-for-profit entities, this course will give them a good understanding of the concepts of financial accounting, budgeting, control and auditing in the government and not-for-profit sector. Some special attention will be given to accounting for Health Care Providers and Colleges and Universities. Apart from the differences between accounting for business and governments and not-for-profits, this course also gives and insight in the key phases of the budget cycle and how budgets can enhance control. It gives an understanding of how governments use the modified accrual basis, how the different sources of revenue (such as taxes, non-exchange revenues, investment gains, interests and dividends, and voluntary nonexchange revenues) and expenditures (such as wages and salaries, pensions and other post-employment benefits, claims and judgments, prepayments and non-exchange expenditures) should be accounted for. Also the course gives an insight in how to account for capital projects and debt service. Delegates will gain an understanding of the differences between permanent funds and fiduciary funds, including specifically Postemployment benefits. The course will look into the role accountants play in the management cycle of governments and other not-for-profit entities and the characteristics of sound operational objectives. Delegates will learn how program budgets relate expenditures to operational objectives. Participants will learn how the audits of governments and not-for-profits differ from those of businesses and what approach auditors generally take in performing audits. The course also includes pronouncements from the International Public Sector Accounting Standards Board (IPSASB), which focuses on the accounting and financial reporting needs of national, regional and local governments, related governmental agencies, and the constituencies they serve.

1.1.1 Prerequisites

Practical experience in Public Sector Accounting. Basic understanding of accounting and budgeting.

1.1.2 Topics

The following topics are included in this course: The Government and Not-for-profit Environment Fund Accounting Budget and Control Recognizing revenues in Government Funds Recognizing Expenditures in Governmental Funds Accounting for Capital Projects and Debt Service Capital Assets and Investments in Marketable Securities Long-term Obligations Business-Type Activities Fiduciary Funds and Permanent Funds Issues of Reporting, Disclosure and Financial Analysis Managing for Results Auditing Governments and Not-for-profit Organizations International Public Sector Accounting Standards (IPSAS) Federal Government Accounting Not-for-profit Organizations Health Care Providers and Colleges And Universities.

The course gives answer to questions like: How do governments and not-for-profit entities compare with businesses? What other characteristics of governments and not-for-profits have accounting implications? What are the specific objectives of financial reporting as set forth by the Governmental Accounting Standards Board and the Financial Accounting Standards Board in the USA? What is included in a Governments Comprehensive Annual Financial Report (CAFR)? How do the funds and annual report of not-for-profits differ from those of governments? Why are performance budgets necessary?

How does encumbrance accounting prevent overspending? What issues are critical as to Investments in marketable securities and other financial instruments? What constitutes a governments long-term bond? Should business type activities be accounted for differently than governmental activities? What are permanent funds and how are they distinguished from fiduciary funds? How does a defined contribution plan differ from a defined benefit plan? How can a governments fiscal condition be assessed? What are split interest agreements and how should they be accounted for? What issues does a not-for-profit entity face in establishing its reporting entity? How should Pass through contributions be accounted for by not-for-profit organizations? What unique issues do health care providers face? How are capital expenditures planned and budgeted within a framework or operational objectives? What types of audits do governments conduct? What reports result from single audits? What constitutes the Federal Budget? What are International Public Sector Accounting Standards (IPSAS) and how do they differ from International Financial reporting Standards (IFRS)?

Delegates for this course are encouraged to raise questions and interact with other delegates, therefore learning from the practical experiences of working at the government or for a public sector entity.
1.1.3 Course Benefits

Understand the differences between accounting for profit entities and entities in the public sector. Have knowledge and understanding of the accounting concepts of the government and not-for-profit entities. Understand general IPSAS requirements, including accounting policies and disclosures.

1.1.4 Who should attend?

This course is especially interesting for: Any professional in a Finance Position in the Public Sector or at a Not-for-profit entity. Auditors and Accountants serving the Public Sector or at a Not-for-profit entity. Consultants serving the Public Sector or at a Not-for-profit entity. Chief Accountants. Public Sector Finance Directors. Heads of Finance in the Public Sector or at a Not-for-profit entity. Finance Managers. Financial Controllers.

1.1.5 Number of days and CPE Credits

This three days course is eligible for 24 CPE Credits.

Course Government and Not-forprofit Accounting Government and Not-forprofit Accounting

Days 3 3

City Auckland Accra

Country New Zealand Ghana

Start 11-9-2011 20-11-2011

Finish 13-9-2011 22-11-2011

Fee $2.250 $2.250