Governmental Accounting 101 Series - Revenue Recognition
Date: Friday, October 9, 2026
Instructor: Eric S. Berman
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
Revenue recognition is one of the most challenging and judgment‑intensive areas of governmental accounting. State and local governments recognize revenue in different ways depending on the nature of the transaction, applicable GASB standards, legal requirements, and timing considerations. This online course provides a clear, foundational overview of how revenue is recognized and reported in governmental basic financial statements.
Participants will explore exchange, exchange‑like, and nonexchange transactions, examine the four major types of nonexchange transactions, and understand how revenue recognition differs between governmental funds, proprietary and fiduciary funds, and government‑wide financial statements. The session also addresses the use of deferred inflows of resources and advances, helping participants apply revenue recognition principles accurately in practice. Designed as an overview‑level course, this program equips professionals with the essential knowledge needed to navigate revenue accounting in state and local governments with confidence.
Who Should Attend
This course is designed for governmental accountants, auditors, finance staff, and accounting professionals who are new to governmental accounting or seeking a refresher on revenue recognition fundamentals.
Topics Covered
- Revenue recognition framework for state and local governments
- Exchange, exchange‑like, and nonexchange transactions
- Types of nonexchange transactions
- Revenue recognition differences among fund types and government‑wide statements
- Deferred inflows of resources in comparison to advances and similar liabilities
Learning Objectives
- Differentiate between exchange, exchange‑like, and nonexchange transactions in governmental accounting
- Explain how revenue recognition differs among governmental funds, proprietary and fiduciary funds, and government‑wide financial statements
- Identify the four major types of nonexchange transactions and determine why distinctions among them are critical for proper reporting
- Determine when deferred inflows of resources and advances are required under GASB standards
- Apply revenue recognition principles to prepare revenue entries within a state or local government annual financial report
Level
Overview
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
