Course Information

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Governmental GAAP for State and Local Governments: Expenses and Expenditures (Second Edition)
Author: Larry P. Bailey, D. Scott Loyd, and Michael A. Crawford

Description:

GASB-34 requires governmental entities to measure and report in their financial reports any exchange and nonexchange transactions that give rise to expenses and expenditures.

This course reviews expenses and expenditures that come from exchange and nonexchange transactions and discusses the basic rules that governmental entities need to use in reporting these transactions in governmental funds, proprietary funds, government-wide financial statements, and fiduciary funds.

Upon successful completion of this course, the user should be able to:

  • Describe the purpose of GASB 33
  • Explain time requirements and purpose restrictions
  • Differentiate between exchange and nonexchange transactions
  • Define government-mandated nonexchange transactions
  • Explain when expenses and expenditures related to government-mandated nonexchange transactions and voluntary exchange transactions should be recognized
  • List the categories of eligibility requirements under GASB 33
  • Discuss the proper recording of exchange transactions
Course Details:
Price:  $34.00
Field of Study:  Accounting (Governmental)
Prerequisites:  Basic knowledge of accounting for governmental entities
Level:  Intermediate
Advanced Preparation:  None
Course was last updated on:  01/18/11
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Library:
Learning Center Core

Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

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