Course Information
Financial Statement Fundamentals
Parking for SAO, Professional Development courses is in Garage B (1511 San Jacinto Blvd.). The Garage signage may read 1511 San Jacinto or Garage B. The elevator in Garage B is not reliable. If you are unable to walk the stairs, please contact the professionaldevelopment@sao.texas.gov for alternate parking arrangements. Handicapped parking is free at the meters around the downtown area.
A course coordinator will Email you a parking permit prior to the course start date. A permit must be displayed or you will be ticketed.
Course Description
This intensive 8-hour training course on Government Accounting Fundamentals and Analysis is designed to equip participants with a comprehensive understanding of the principles, practices, and regulatory frameworks governing public sector accounting. Starting with an overview of government accounting's unique characteristics and regulatory environment, the course delves into the essentials of fund accounting, budgetary accounting, and the intricacies of financial reporting in government entities. Attendees will gain insights into the complexities of government revenue sources, expenditure management, and the pivotal role of audits and compliance in ensuring fiscal responsibility. The curriculum further explores the management of government debt, applying financial analysis techniques to assess fiscal health and sustainability.
Much of the training is dedicated to practical application through case studies, real-world scenarios, and interactive exercises, including flex analysis—a critical tool for understanding budget variances and enhancing financial oversight. This course is designed to foster an understanding of government accounting practices, enhance budgeting and financial planning skills, and promote accountability and transparency in public finance management. By the end of the session, participants will be prepared to apply these principles and techniques in their professional roles, contributing to more effective and efficient government financial management.
Course Objectives
You will learn the following in this course:
• Understand the fundamental principles and regulatory framework governing government accounting, including the differences between government and commercial accounting practices.
• Gain and understanding in fund accounting and budgetary accounting, learning how to manage and report on various types of government funds and adhere to budgetary controls.
• Develop skills in analyzing government financial statements, utilizing key metrics and indicators to assess financial health and compliance with fiscal policies.
• Learn the application of flex analysis for budget variance analysis, enabling the identification of discrepancies between actual and budgeted figures and understanding their implications on financial management.
• Enhance the ability to conduct effective audits and ensure compliance within government entities, focusing on internal controls, risk management, and the importance of transparency and accountability in public finance.
Prerequisites
There are no prerequisite classes.
Instructors
C.I.A. QIAL, CRMA, CGAP, CFE
Auditor General – Metropolitan Transportation Authority
Responsible for the internal audit function for a company with an operating budget of over $15 billion and a capital program of $5 billion. Monitor budget of $10 million with a staff of 102 professionals. Responsibilities include providing audit coverage for MTA HQ and its’ Agencies consisting of NYC Transit, Long Island Railroad, Metro North, Bridges and Tunnels and MTA Bus, MTA Capital Corp. Develop a comprehensive risk based audit plan approach. Established internal Integrity Monitoring Audit Section, approved by the Federal Transportation Authority for Superstorm Sandy Federal Funds of over $4 Billion. Performed key consulting type engagements that included the development process of the MTA All Agency budget that totals more than $20 billion, establishment of quarterly financial statements and creation of the Business Service Center. Extensive knowledge of Sarbanes Oxley requirements and led numerous internal control assessment reviews. Identified savings of over $100 million annually. Conducted numerous quality assurance reviews of major transit properties in the U.S. Member MTA’s Executive Team. Report directly to the Chairman and Audit Committee of the MTA’s Board of Directors. Frequent speaker at auditing events on key current topics.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.
If you are making travel plans to come to Austin, we recommend making "refundable" air and hotel reservations or waiting until 14 days before the class to actually book your reservations. Courses are occasionally canceled or rescheduled due to low enrollment. We determine whether a course has enough participants 16 days prior to the course date. If we cancel or reschedule, we will email the participant and his or her billing contact no later than 14 days before the original class date.
A self-service vending area with beverages and snacks can be found on the first floor of our building next to the DPS office. There is also a refrigerator and microwave in our coffee bar area. Feel free to bring in your own drinks and food if you prefer.
You might want to bring a light sweater or jacket, as room temperatures vary.
To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html