Course

Course Summary
Credit Type:
Course
ACE ID:
MACI-0069
Organization's ID:
5000
Organization:
Management Concepts, Inc.
Location:
Classroom-based
Length:
2 days, 14 hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Upper-Division Baccalaureate 1 Accounting or Business Administration
Description

Objective:

To provide the knowledge of how financial statements are generated from an agency's financial system using tools provided by the U.S. Standard General Ledger.

Learning Outcomes:

  • Describe the relationship of financial statements to the accounting cycle, and the basic format for financial statements
  • Prepare principal financial statements in accordance with OMB and federal accounting standards
  • Explain the function of OMB guidance in preparing financial statements, and the requirements of the CFO Act, GPRA, GMRA, and FFMIA
  • Determine whether or not an agency component is subject to federal financial reporting standards
  • Explain the role of auditing in the process of preparing financial statements

General Topics:

  • The basics of federal accounting
  • Federal financial reporting
  • Preparing principal financial statements
  • Auditing agency financial statements
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Classroom Exercise
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
Supplemental Materials