BRING YOU A NEW SOLUTION FOR

DEMONSTRATING COMPETENCE IN GOVERNMENTAL ACCOUNTING
AND
FINANCIAL REPORTING

Education Management Information Systems (EdMIS) is a leader in providing professional development solutions, software tools and resources, and consulting and training services to auditors and accounting personnel working with local governmental entities.

We have created a professional development course called Demonstrating Competence in Governmental Accounting and Financial Reporting to help ALL school districts train one or more employees so that they meet the competency requirements needed to have the independent auditor prepare the financial statements for their districts. This course is designed to address new accounting and auditing pronouncements that take effect THIS YEAR which affect a school District’s involvement in the financial audit. Go to www.responsivelearning.com or click here to view a demo of this course.

Because of the favorable response received during the live presentations, EdMIS and Responsive Learning have teamed up to offer this course in an electronic classroom or e-learning format!

Responsive Learning captures knowledge and expertise and translates it into a learning format that can be shared when needed, where needed, and as needed. We use e-Learning technology and techniques to design and deliver powerful training and learning solutions specifically for schools, districts, and education agencies. Responsive Learning was created for schools by school people. We are the architects who design and build the systems to connect the experts, resources, and training.

Two new pronouncements take effect this year which affect your District’s involvement in the financial audit. Your independent auditor may ask that you prepare your own financial statements. At the very least, you must have a person responsible with the skills and knowledge necessary to “oversee” the recording of financial transactions AND the preparation of your financial statements. This course is designed to provide training to assist in the development of these skills.

Learning objectives:

• To obtain an understanding of the unique conditions of governmental operations that create a need for accounting and reporting principles that differ from the principles of commercial accounting.
• To learn the accounting principles as required by GAAP. The discussion will include the accounting procedures related to specific balance sheet and operating statement items, such as cash deposits and investments, leases, long-term debt including refunding and capital appreciation bonds, capital assets, and proprietary fund accounting and reporting.
• To be able to analyze events related to these items, book required year-end transactions appropriately, prepare reports for accounting records and management considerations, and prepare notes or schedules for the annual report.
• To study in detail the steps required in preparing the District’s comprehensive annual financial report.

To accomplish our objectives we will study the appropriate sections of GASB’s Codification of Governmental Accounting and Financial Reporting Standards and T.E.A.’s Financial Accountability Resource Guide. We will use the software package AUDIT-L.E.A. to illustrate the accounting and reporting requirements and documentation procedures for preparing the financial report.

Prerequisite: General knowledge of accounting and financial reporting (introductory college level)
Advanced Preparation: None
Program level: Intermediate