2020.05.19-20 Accounting Basics for Tribes - Online Session 

I Will Learn:

This course provides instruction on accounting fundamentals and protocols to arm the attendees with a basic understanding of accounting, including but not limited to:

• Governmental Accounting (how it applies to tribes and tribal organizations)
• Purpose and Role of the Financial Accounting Foundation (FAF), Government, Government Accounting Standards Board (GASB), Financial Accounting Standards Board (FASB)
• Basic Accounting Concepts (“The Accounting Equation”)
• Double Entry Accounting (debits & credits, T-accounts, normal balances, activity, journals, ledgers, how transactions are processed)
• Accounting Records (journals, ledgers, processing transactions)
• Accounting Transactions (accounts receivables, accounts payables, general ledger, payroll, activities)
• Fund Accounting (purpose, fund categories, interfund loans, interfund transfers, activities)
• Basis of Accounting (cash, accrual, modified accrual, measurement focus)
• Budgeting (objectives, approaches, process, budgetary controls)
• Capital Assets (examples, activities)
• Tribal Accounting Specifics (federal grants & contracts, i.e. Pub. L. 93-638 & discretionary grants, federal financial reporting, i.e. SF-425s)
• Tribal Accounting (budgeting, governmental operations, revenues & expenses, grants & contracts management, program revenues)
  • Becoming Audit Ready (accounting transactions, monthly reconciliations, grants management, indirect costs, narrative reports, fixed assets, trial balance, internal controls, council minutes, investments, loans, etc.).