Description:
This course discusses basic bookkeeping functions, such as recording debits and credits, making correcting entries, and closing a set of books. It details the elements of balance sheets, budgetary accounts, governmental funds, state and corporate transportation fund allocation systems, and Governmental Accounting Standards. This course is intended for entry-level administration and transportation staff that have the responsibility of tracking finances.
Objectives:
IDENTIFY the primary entities that govern financial accounting.
RECALL basic accounting terms, techniques, and procedures.
IDENTIFY differences and similarities between public (government) and private sector accounting.
IDENTIFY aspects of a financial report.
IDENTIFY primary cost centers.
RECALL ways to calculate basic costs.
IDENTIFY ways to plan a budget using program cost calculation..
