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The fundamentals of state and local government accounting, decision-making, budget practices, and capital planning and funding are taught in this course. The first section of the course provides an overview of generally accepted accounting principles (GAAP) and financial reporting. This is followed by an introduction to  funding and allocation of resources, and financial decision-making. The course then introduces the various budget processes and techniques employed by governments in budget preparation, enactment, and execution. The course ends with an examination of how governments fund capital improvements and infrastructure renewal as well as the causes of fiscal distress faced by government entities.

Learning Objectives

  • Discover the basic accounting principles applicable to governments and recognize how to use comprehensive annual financial reports and other financial documents to evaluate financial strengths or weaknesses of government enterprises
  • Explore the processes, techniques, and methods used by governments to prepare, adopt, and execute budgets
  • Identify how governments plan and fund ”brick and mortar” infrastructure projects and the analytical techniques used to make sound capital decisions in the public interest including cost-benefit analysis
  • Explore the elements of municipal bond issuance, underwriting, credit analysis, and, investment management
  • Discover the causes of fiscal distress and the Ch. 9 bankruptcy filing process
Last updated/reviewed: June 20, 2021

37 Reviews (87 ratings)Reviews

5
Anonymous Author
Good course. Good trainer. Detailed information. I would recommend this to other coworkers.
2
Member's Profile
While the information was useful, the presentation was so, so, poor, that I can only give 2 stars. For example, there are several points in the presentation where the reader (yes, he was clearly reading a script, ugh!) either lost his train of thought and had to start over, or had microphone problems. Come on! Please do a retake when this happens. Also, more graphics would have been useful. How about a slide with a sample financial statement?
5
Anonymous Author
This course provided a comprehensive overview of GAAP and required financial reporting as well as the various steps in the budgeting process and several insightful techniques. The instructor effectively presented content and provided helpful supporting materials to further augment learning and retention of key concepts.
4
Member's Profile
Quite a basic overview of state/local government and financial reporting and budgeting. While this is fine, it might have been value-added to include an actual example of a CAFR and refer to it to reinforce concepts. Otherwise a generally good introduction to the subject matter.
5
Anonymous Author
The is a very informative course. The way in which the concepts are presented is helpful and it is easy to understand. The instructor was engaging and was able to keep this interesting. This course could be useful across many levels of an organization.
4
Anonymous Author
The class is a good overview. Someone with little or no knowledge of government accounting would benefit from this course. I thought quiz could be more definition based rather than asking specific statistics.
5
Member's Profile
Thank you, this course was great. I felt like it covered everything necessary and provided me with the tools to pass the exam at the end. Overall I would recommend this to a colleague.
5
Member's Profile
Great course to get a high level understanding of the differences between governmental reporting and GAAP reporting. Concise slides and examples helped convey the material well.
3
Member's Profile
High level overview which is good, but I would appreciate accounting courses that were more detail. Illumeo appears to be lacking in government accounting courses.
3
Anonymous Author
Presentation was dry (even given the fairly dry material). Some slides were not the same in the download (or in different order)
3
Anonymous Author
While the information is helpful, the course slides are dated and need to updated. Much of the information is stale.
4
Anonymous Author
This is a good overview course although it is not exciting material. It is a little hard to stay focused.
4
Anonymous Author
A good overall presentation of the topic. Informative for individuals considering entry into the industry.
4
Anonymous Author
This course provides good information on the Governmental budgeting process and information about bonds.
5
Anonymous Author
The course was well structured and the presented information was understandable and clearly supported.
3
Anonymous Author
There was so much content in this course, I feel it should have been broken into 3 separate courses.
3
Member's Profile
This course didn't keep my attention at all. The material was dry but this is accounting.
5
Member's Profile
good wording, nice examples, few pictures are used in the slides, easy to undstand....
3
Anonymous Author
This was a very slow and basic course. Didn't provide any new information. Very dry.
3
Member's Profile
Did not need to be so sub-divided, some additional quality control is also needed.
4
Member's Profile
video needs editing - mis-speaks left in - authough this did break up monotony.
4
Member's Profile
Very informative, subject matter a little dry. But good data and slides.
5
Member's Profile
Well-structured and informative course on government accounting basics.
5
Member's Profile
Helpful, informative instructor and review quiz. Final exam was fair.
4
Anonymous Author
Interesting course, from basic fundamentals to insightful details.
5
Anonymous Author
Would love to take deep-dive version of this course, if available.
5
Anonymous Author
Interesting overview of government budgeting & planning.
5
Member's Profile
Helpful introduction to governmental accounting
4
Anonymous Author
Very informative and well prepared.
3
Anonymous Author
Lots of noise in background.
5
Anonymous Author
Another Great Course!!
4
Member's Profile
Important content.
5
Anonymous Author
Very informative
4
Member's Profile
Good information
4
Member's Profile
Good review
4
Member's Profile
Boring...
4
Member's Profile
Good

Prerequisites

Course Complexity: Foundational

Prerequisites: None

Advanced Preperation: None 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
FUND BASED STATEMENTS
  7:13Fund Based Statements
Audit, Evaluation, and Analysis
  10:43Program Audit and Evaluation
  5:47Time Value of Money
  5:27Public Policy Analysis
  2:56State and Local Government System
Budget Process
  6:55Budget Processes
  3:22Revenues and Budget Pressures
Capital Funding
  15:30Capital Improvements
CONCLUSION
  2:28Course Summary
Continuous Play
  1:11:26Government Accounting, Budget Practices, and Capital Funding
SUPPORTING MATERIALS
  PDFSlides: Government Accounting, Budget Practices, and Capital Funding
  PDFGovernment Accounting, Budget Practices, and Capital Funding Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM