Statements of Federal Financial Accounting Standards (SFFAS)
8 CPEs
This course is designed for Federal financial management personnel who are responsible for updating, reviewing, or determining the accuracy and reliability of accounting data pertaining to assets, liabilities, net position, revenue, expenses, gains and losses. .
Course Objectives:
Upon completion of this course, participants will be able to:
Discuss the role of the Federal Accounting Standards Advisory Board (FASAB) in supporting financial accounting and reporting in the federal government
Apply federal accounting standards
Evaluate the impact of SFFAS on the principal financial statements
Evaluate business events to determine the impact on:
Accounting for and reporting on assets, liabilities and net position
Accounting for property, plant and equipment (PP&E) and cleanup costs
Reporting on other supplementary information
Reporting and disclosing revenue and expenses in accordance with standards
Prerequisites:
Supervisory discretion - Basic level