Part I of this three-course series will familiarize you with the basic accounting equation and how transactions affect that equation. You will also learn the elements of financial reports, and be aware of Generally Accepted Accounting Principles (GAAP) for state and local governments. In addition, you will learn to record financial transactions using the modified accrual basis of accounting used by governmental funds; a practice exercise is included in this NASBA-approved, 25.8-hour course.

• An introduction to basic accounting theory, the chart of accounts, double entry accounting, and accounting systems and records
• The basics of how accountants should record transactions
• The basics of fund accounting
• The basics of payroll and benefits accounting
• The basics of accounting for inter-fund transfers
• How to adjust and close the general ledger