Fund Accounting and Municipality Analysis:
Part I of II
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In this 1st course of the Non-Profit & Municipality Analysis Skill Series, participants will explore differences between accrual, not-for-profit, and fund accounting, examining income statements and balance sheets, and using both in assessing governmental and business-type activities in municipalities.
Certificate
1 credit or $295
Cost
1.5 - 2 Hrs.
Duration
1 hr.
Prep Time
1
Quiz
Overview
Participants explore the differences between standard accrual accounting, not-for-profit accounting, and fund accounting, including differences in terminology, format, and analytical content. They examine the fund accounting "income statement" and identify its similarities to a fully cash-based income statement as well as its differences from a standard accrual income statement. Further, Participants review the fund accounting "balance sheet" and identify its similarities and differences vis-a-vis a standard accrual balance sheet. In addition, they explore an analytical process for using both fund accounting and accrual accounting financial statement information in assessing governmental activities as well as specific business-type activities within the broader municipality.
Who Should Take This Course
This Course is ideal for participants currently in or aspiring to enter the following job functions:
- Credit Management
- Commercial Credit Administration
- Commercial Loan Administration
- Corporate Lending
- Non-Profit Lending
- Loan Review
- Special Assets
- Private Banking
- Credit Analysis
Prerequisites
Familiarity with accrual financial statements, common performance ratios, and a sound working knowledge of the construction and use of the Uniform Credit Analysis (UCA) cash flow statement.
Objectives
By the end of the webinar, participants will be able to:
- Identify the basic differences between standard accrual accounting, not-for-profit accounting, and fund accounting, including differences in terminology, format, and analytical content.
- Understand the role of the Governmental Accounting Standards Board (GASB) in shaping the terminology, format, and analytical content of financial statements for municipalities.
- Identify the similarities and differences between a fund accounting "income statement" and a fully cash-based income statement.
- Identify the similarities and differences between a fund accounting "balance sheet" and an accrual balance sheet along with the steps necessary to reconcile the two.
- Identify the benefits and limitations of using the fund accounting "income statement" and enterprise-wide balance sheet in assessing the risk profile and risk issues for a municipality.
- Implement an analytical process for using both fund accounting and accrual accounting financial statement information in assessing a municipality as well as specific governmental and business-type activities within the broader enterprise.
Materials(access provided with registration)
- Credit Refresher on Fund Accounting Basics
- Excerpts from the Comprehensive Annual Financial Report for the City of Calistoga, California
- Exercise for the Webinar
- Webinar Presentation Slides
- Webinar Poll Questions
- Webinar Poll Solutions
- Exercise Solutions
This is Course 1 of 3 in the Non-Profit & Municipality Analysis Skill Series
Fund Accounting and Municipality Analysis: Part I of II
Fund Accounting and Municipality Analysis: Part II of II
Not for Profit Analysis
