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Define governmental entity and financial reporting entity.
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Describe the governmental environment.
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Identify the uses and users of governmental financial reports as well as the objectives of governmental financial reporting.
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Describe the GASB project on service efforts and accomplishment reporting and establishing GAAP for state and local governments.
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Implement the requirements of GASBS No. 34.
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Identify the three categories of funds and the types of funds of each category.
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Summarize the requirements of measurement focus and basis of accounting for all three types of funds.
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Choose the proper accounting and reporting treatment of capital assets, debt and long-term liabilities and interfund activity.
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Define the proper terms for the difference between fund assets and liabilities for each fund category and record the appropriate accounting entries for each fund category.
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Identify the importance of governmental budgets as well as the requirements for reporting of budgetary comparisons.
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