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FEDERAL FINANCIAL ACCOUNTING COURSEFEDERAL FINANCIAL ACCOUNTING COURSE

$1,180.00 (USD)

This course is an introduction to federal financial management for entry-level students or experienced accountants currently working in the federal accounting and financial management area. It also can serve as a refresher for accountants who may be returning to federal client service or those seeking to work with or join government entities.

Prerequisites:

  • General knowledge of basic accounting principles
  • Advance preparation - none

Program Level: Basic

  • Familiarize yourself with the funding process and flow of money from Congressional Appropriations down to payment of Vendors.
  • Familiarize yourself with postings and transactions from accounting events in accordance with the U.S. Standard General Ledger.
  • Analyze the results of various treatments of transactions reviewing input screens and reports from the actual Federal Government's Software Capabilities Verification Test.
Credits: 24
Estimated Length: 24 hour(s)
Valid for: 1 Year(s)

Lessons

Name View Schedule
Online Lesson1. Getting Started -
Online Lesson2. Course Materials -
Online Lesson3. Introduction -
Online Lesson4. Introduction - Review Questions -
Online Lesson5. Session 1 – What is different about Federal Accounting? -
Online Lesson6. Session 1 - Review Questions - What is different about Federal Accounting? -
Online Lesson7. Session 2 - Budget Authority -
Online Lesson8. Session 2 - Budget Authority - Review Questions -
Online Lesson9. Session 3 - Expenditures -
Online Lesson10. Session 3 - Expenditures - Review Questions -
Online Lesson11. Session 4 - Accounts Receivable -
Online Lesson12. Session 4 - Accounts Receivable - Review Questions -
Online Lesson13. Session 5 - Reporting -
Online Lesson14. Session 5 - Reporting - Review Questions -
Online Lesson15. Final Examination -

Objectives

Upon completion of this course the student will be able to do the following:

  • Identify common terms used in federal accounting
  • Distinguish between the uses for both Budgetary and Proprietary accounting
  • Identify the impacts of the Antideficiency and Prompt Pay Acts on a federal accounting system
  • Recognize the major sections of the United States Standard General Ledger (USSGL)
  • Recognize federal budget formulation documents and their functions
  • Recognize federal budget distribution documents and their functions
  • Indicate the general ledger accounts required for federal budget formulation postings
  • Identify the reasons for highlighting travel documents
  • Recognize federal expenditure process documents and their functions
  • Identify the reports used in tracking expenditures
  • Indicate the general ledger accounts required for federal expenditure postings
  • Recognize the order in which documents are processed in a federal accounting system
  • Identify federal accounts receivable documents and their functions
  • Indicate the general ledger accounts required for federal accounts receivable postings
  • Recognize the standard reports employed for transparency in the federal government
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