Fund Accounting Training

by Marquis Codjia; Updated September 26, 2017
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A fund accounting training program helps a participant understand the latest changes in fund accounting principles, and how they apply to a government entity's financial statements. Fund accounting methods relate to governments and nonprofit entities such as universities, charitable organizations, political parties and unions. Fund accounting training courses can be available online or onsite.

Purposes

A fund accounting training curriculum instructs a participant on financial controls and internal procedures that a governmental entity usually sets to prevent operating losses. For instance, a city treasurer can familiarize himself with financial controls in individual tax-receiving processes, and how they affect corporate tax-receiving systems. A fund accounting course also helps an attendee stay up-to-date with state accounting rules. To illustrate, the city treasury can learn about new guidelines for reporting deferred taxation items.

Method of Distribution

A fund accounting training moderator can provide courses via the web or onsite. The city treasurer who wants to learn about state accounting rules can log into a website, select applicable course modules and take an exam at the end of the session. She also can attend a conference that the Federal Accounting Standards Advisory Board (FASAB) sponsors. Alternatively, the city treasurer can participate in a training session at the state's finance department, or she can enroll in a university's government accounting program.

Training Topic

Training topics may vary in a fund accounting curriculum, depending on the organization. As an example, a small charitable organization's training moderator can select a course on fundraising accounting, and how to budget for a fundraising event. Alternatively, a fund accounting training curriculum at a large federal agency may cover financial reporting rules, and how generally accepted accounting principles (GAAP) differ from generally accepted government accounting standards (GAGAS).

Expert Insight

Fund accounting training topics often can be complex, especially when an organization's accounting department must apply guidelines from a newly enacted law. In such cases, a human resources training moderator can bring in a specialist to explain a difficult subject. For example, a fund accounting training supervisor can hire a former U.S. Government Accountability Office (GAO) senior controller to explain differences between GAAP and GAGAS.

Benefits

A fund accounting training program can benefit a sponsoring organization and a participant. A licensed accounting professional can take courses to abide by continuing professional education (CPE) guidelines that a state's board of accounting often requires. She also can use newly learned skills to become competent and productive. An organization sponsoring a fund accounting training program also can benefit because well-trained employees are more likely to establish adequate procedures in financial reporting mechanisms.

About the Author

Marquis Codjia is a New York-based freelance writer, investor and banker. He has authored articles since 2000, covering topics such as politics, technology and business. A certified public accountant and certified financial manager, Codjia received a Master of Business Administration from Rutgers University, majoring in investment analysis and financial management.

Photo Credits

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