CLGE October 2023 Day 2, Session 4: Intermediate Governmental Accounting - Budgetary Accounting

Intermediate Governmental Accounting - Budgetary Accounting Diane B. Allison, CPA, CGMA, CGFO Director of Local Government Services, LLA This intermediate governmental accounting session will build on basic governmental accounting and, in four 50-minute segments, will explain accounting principles and concepts, fund and government-wide financial statements, and budgetary accounting. Fund types will be reviewed, in addition to measurement focus and basis of accounting, and how state and local governments use those concepts every day to record financial transactions. The types of financial statements, both fund and government-wide, will be explained, along with major items reported and reconciliations between the two, to enable participants to gain a deeper understanding of the usefulness of these financial statements in decision making. Operating, capital, and program budgets will be discussed, along with their legal and management importance, and some tips for better budgeting will be provided.