Course Description

This two-day elective course provides accountants and budget analysts with fundamental terminologies of generally accepted accounting principles and the essential need for accuracy. The differences between the fiduciary responsibility of accountants and the program accountability of budget developers are analyzed. Case studies and class participation are used to interpret accounting statements and apply cross-checks to budget formulation and execution processes.

Learning Objectives

• Understand the principles of accounting and why there is a need for accurate accounting estimates to develop good budgeting estimates
• Develop and understand the Federal budgeting process
• Define and understand key accounting and budgeting terminologies
• Understand any agency-specific policies with respect to accounting and budgeting
• Apply learned knowledge to record, classify, and interpret accounting statements and apply cross-checks to budget formulation and execution processes

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