Compare courses
Register
Management Concepts

U.S. Standard General Ledger: Practical Applications

Jul 8—9
2 days
Washington, District of Columbia, United States
USD 699
USD 349 per day
Jul 17—18
2 days
Seattle, Washington, United States
USD 699
USD 349 per day
Aug 7—8
2 days
Tysons, Virginia, United States
USD 699
USD 349 per day
+6 more options

How it works

Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with Management Concepts.

Full disclaimer.

Description

Many Federal financial management personnel don’t fully understand the financial guidance provided by OMB. Practical application of this guidance and of the U.S. Government Standard General Ledger (USSGL) will support the objective of producing accurate and timely financial statements. Develop your skills in Federal accounting through an in-depth look at analyzing and recording financial events.

Note: Participants should have experience with accounting for assets, liabilities, net position, revenues, and expenses, as well as with T-accounts and general ledgers.

Learning Objectives

  • Apply the USSGL at the transaction level in all phases of the accounting and budget cycles
  • Perform accounting transactions using the USSGL Chart of Accounts
  • Record and analyze reimbursable financial events using the USSGL
  • Analyze financial events relating to prior-year transactions, and record upward and downward adjustments
  • Describe the use of transaction codes

Course Topics

The USSGL

  • Building Background
  • What Is the USSGL?
  • Accounting and Accounts Supported by the USSGL
  • USSGL Chart of Accounts and Account Definitions
  • USSGL Transactions
  • Overview of Budgetary Authority
  • USSGL Attributes
  • Tracking Budgetary Resources
  • Lesson Wrap-Up

Accounting Transactions for Direct Authority

  • Building Background
  • Event Transactions
  • Event Overview: Budgetary and Proprietary Accounting Process – Direct Funds
  • Event 1: Realized Appropriation Authority/Appropriation Warrant
  • Event 2. Apportionment
  • Event 3. Allotment
  • Event 4. Commitment
  • Event 5. Obligation
  • Trial Balance
  • Summary of Receipt and Use of an Appropriation
  • Lesson Wrap-Up

Accounting Transactions for Reimbursable Authority

  • Building Background
  • Reimbursable Authority
  • Budgetary Transactions
  • Event Overview: Budgetary and Proprietary Accounting Process – Reimbursable Funding
  • Event 1. Realized Anticipated Reimbursement Authority
  • Event 2. Apportionment
  • Event 3. Allotment
  • Event 4. Commitment
  • Event 5. Obligation (Undelivered Orders – Unpaid)
  • Event 6. Customer Orders (Earned)
  • Trial Balance
  • Lesson Wrap-Up

Adjusting Entries

  • Building Background
  • Adjusting Entries
  • Unadjusted Trial Balance
  • Recording Receivables (Amounts Owed to Us)
  • Updating Records for Supplies on Hand
  • Recording Depreciation of Equipment
  • Adjusting Entries for Payroll
  • Adjusting Entries for Accrued Leave
  • Adjusting Entries for Imputed Cost
  • Adjusted Trial Balance
  • Lesson Wrap-Up

Closing

  • Building Background
  • Closing Entries
  • Types of Accounts to Close
  • Closing Trial Balance
  • Lesson Wrap-Up

Upward & Downward Adjustments

  • Building Background
  • Upward and Downward Accounts
  • Beginning Trial Balance
  • Upward and Downward Adjustments
  • Status of Funds
  • Event 1. Upward Adjustments to Undelivered Orders – Obligations, Unpaid 480100
  • Event 2. Downward Adjustments to Undelivered Orders – Obligations, Unpaid 480100
  • Event 3. Upward and Downward Adjustments to Undelivered Orders – Obligations, Prepaid/Advanced 480200
  • Event 4. Upward and Downward Adjustments to Delivered Orders – Obligations, Unpaid 490100
  • Event 5. Upward & Downward Adjustments to Delivered Orders – Obligations, Paid 490200
  • Prior-Year Trial Balance with Upward and Downward Adjustments
  • Closing the Books during the Expired Phase
  • Prior-Period Adjustments Due to Corrections of Errors
  • Lesson Wrap-Up

Who should attend

Participants enrolled in this course are federal financial management personnel who are involved with any aspect of implementing or using the USSGL to record events and/or prepare financial statements.

Next dates

Jul 8—9
2 days
Washington, District of Columbia, United States
USD 699
USD 349 per day
Jul 17—18
2 days
Seattle, Washington, United States
USD 699
USD 349 per day
Aug 7—8
2 days
Tysons, Virginia, United States
USD 699
USD 349 per day
+6 more options

How it works

Show more
Get free assistance in program selection