Standard General Ledger - Upwards and Downwards Adjustments
8 CPEs

This course is designed for federal financial managers and accounting staff responsible for accounting transactions involving the adjustments of obligations in various funding accounts. This course addresses three specific areas: The SGL entries for upward and downward adjustments to prior year obligations in expired appropriations; the SGL entries for upward and downward adjustments for prior year obligations in multi-year and indefinite appropriations; and the closing entries for expired and unexpired appropriations.

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Course Objectives:

Upon completion of this course, participants will be able to:

  • Identify the accounts used for upward and downward adjustments of prior-year obligations, both paid and unpaid

  • Recognize how and when each type of transaction should be recognized on an agency's books

  • Indicate how these transactions are reported to Treasury and OMB

Prerequisites:

  • Supervisory discretion - Advanced level

  • Attending Budget Execution recommended prior to this course