Governmental Accounting 100 (Udemy.com)

Fund accounting-governmental accounting-General Fund & government-wide activity transactions-modified accrual method

Created by: Robert (Bob) Steele

Produced in 2019

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What you will learn

  • Governmental Accounting Objectives & Reporting Requirements
  • Fund Accounting Foundations
  • State & Local Governmental Accounting Principles & Financial Reporting
  • How to Record Transactions for Budgetary Accounts & Encumbrances
  • How to Create & Analyze Governmental Operating Statement Accounts & Budgetary Accounts
  • How to Record Transactions for Encumbrances, Expenditures, & Delinquent Receivables
  • How to Record Revenue Transactions in Both the General Fund & Government Wide Level
  • How to Record Tax Anticipation Note & Closing Entries
  • How to Record Transactions to Both the General Fund & Government Wide Level
  • Go to Create Subsidiary Ledgers
  • How to Record Supplies Inventory Consumption Method & Purchases Method

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Quality Score

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Overall Score : 86 / 100

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Course Description

Governmental accounting, including fund accounting financial transactions, focusing on the general fund and government-wide activities.
We will work through many example problems as we learn the material, posting transactions to a trial balance, so we can see how accounts behave. Many governmental accounts are new to many learners, and we will be using different accounting methods than just an accrual method. Posting transactions and seeing a trial balance will be very helpful in learning the material and is something lacking in most courses on the subject.
We will discuss the governmental accounting objectives and reporting requirements, comparing them to for-profit entities. The course will assume we are familiar with for-profit accounting and will, therefore, focus on the areas of governmental accounting that are different, although we will continue to work with core concepts like the double entry accounting system.
Learners and instructor will examine state and local governmental accounting principles & financial reporting.
We will record transactions for budgetary accounts & encumbrances. Recording budgetary accounts will be new for many learners familiar with financial accounting, but we will use double entry accounting principles for the process.
The course will explain and analyze governmental operating statement accounts & budgetary accounts.
Learners and instructor will record transactions for encumbrances, expenditures, & delinquent receivables. We will emphasize when a modified accrual method will be used, and what the differences in recording financial transactions will be when used, as compared to an accrual method.
We will record transactions related to revenue in both the General Fund and at the government-wide activities level.
The course will discuss tax anticipation notes and how they will be recorded under a modified accrual method.
Learners and instructor will explore many examples of the closing process, closing out temporary accounts. We will compare the closing process for governmental entities to the closing process in for-profit accounting.
We will examine how to create subsidiary ledgers related to revenue, estimated revenue, appropriations, encumbrances, and expenditures.
The course will provide examples of recording supplies using the consumption method and purchases method, explaining the differences between the two.
Who this course is for:
Accounting studentsCPA Exam Candidates

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Instructor Details

Robert (Bob) Steele

Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelors Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and

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Reviews

4.3

23 total reviews

5 star 4 star 3 star 2 star 1 star
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By Mohamed soltan on 11/24/2020

Thanks

By Stephanie Hager on 11/20/2020

Yes. I am a visual learner and need to hear explanations more than once. I like the approach of the teaching and the repetition.

By Jayalakshmi Srikanthan on 11/6/2020

Great explanation by the professor! He is kind of fast, but very clear lecture by him.

By V Rahming on 10/2/2020

The Course was very detailed, met and exceeded my expectations in some cases. I appreciated the lessons closely followed by the live applications or rather modeled demonstrations. I appreciated the application of knowledge in the downloadable excel spreadsheets the most and found those to be extremely helpful.

By Damtew on 9/13/2020

Amazing! What can I say I don't know eye opening!

By Brian R Kapfhammer on 9/10/2020

Absolutely!

By Mohseena Banu on 9/7/2020

GOOD

By Anita Linscomb on 8/24/2020

It is a good match for me because I have worked in state government accounting for 13 years.

By Muhammad Zubair on 8/21/2020

Geting new material and knowledge

By Anusree Das on 5/21/2020

amazing! very much helpful.

By Priyanka Shaw on 5/19/2020

Good to study.

By Aakash sali on 5/17/2020

Good