3Track B

Intermediate Accounting

• 09/08/2025
• 01:00 p.m. - 05:00 p.m.
• 12 hours

• 09/09/2025
• 08:00 a.m. - 05:00 p.m.

Course Description

The Intermediate Accounting session will provide participants with an in-depth view into the world of governmental accounting. Topics to be addressed include deep dives into the financial reporting entity; accounting and financial reporting for cash and investments, including more complicated financial instruments; accounting and financial reporting for capital assets, including how to determine what to capitalize and how to determine useful lives, and the ins and outs of lease accounting; accounting and financial reporting for pensions and retiree healthcare benefits, and social security; accounting and financial reporting for debt, including amortization of premiums and discounts and refundings and extinguishments; accounting and financial reporting for other long-term liabilities; and fund balance and net position classification issues.

What You Will Learn

• How to determine what organizations belong in the financial reporting entity and how those entities should be reported
• Considerations in determining what assets should be capitalized and factors to consider in establishing the useful lives of capital assets
• How lease standards should be applied from both a lessor and lessee perspective
• What information is needed by the actuary to determine how to apply the pension and other postemployment benefit standards (OPEB) and how those standards should be applied in the reporting of pension and OPEB liabilities
• What standards can be considered in reporting social security programs
• Where debt should be reported in the financial statements and how to account for transactions associated with the issuance of debt
• How to identify and report financial guarantees; post-closure costs, including landfills; and pollution remediation costs
• What information is needed to determine the net investment in capital assets and other fund balance and net position accounts

Who Should Attend?

This session is intended for those that have attended the Understanding Governmental Accounting and Understanding the Financial Statements course in the past, those that have a basic understanding of governmental accounting, and those that have an interest in learning more about the accounting and financial reporting of key transactions and other events found in governmental accounting.

 

Instructors