Intro to Governmental Accounting 102 is the natural follow up course to the original Intro to Governmental Accounting 101. In this session, we will tackle unique things like what makes a fund a major fund, what are the differing basis of accountings used, why geography matters in the world of state and local governmental reporting, and many other intermediate type topics. A great course to take after you have taken Intro to Governmental Accounting 101.
DESIGNED FOR
Anyonne responsible for preparing or attesting upon financial statements
BENEFITS
- Describe the importance of proper debt classification and disclosure
- Explain how various common debt terms impact the classification of debt
- Apply illustrative examples to appropriate disclosure of debt terms and circumstances
HIGHLIGHTS
- Debt terms that impact classification of debt, such as due on demand and subjective acceleration clauses, and more!
- Proper treatment of short-term obligations that are expected to refinance within the next 12 months
- "Revolving" credit agreements, where short-term debt is automatically replaced with other short-term debt for a specified period of time
- Differentiating between debt modifications and troubled debt restructuring
- Debt covenant compliance special considerations, including the proper form of waiver of rights to call the debt for violation
PREREQUISITES
None
ADVANCE PREPARATION
None