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Basic Bookkeeping: Federal Grants and
Contracts Accounting
for Tribes and Tribal Organizations

Date: September 19 - 20, 2019
Location:   Las Vegas, NV
Hotel: Tropicana Las Vegas (3801 Las Vegas Blvd. South)
  For a room rate of $85, please call 702-739-2222 by August 16, 2019 and mention you're with the Falmouth Institute. Please click here to make your reservation online.
Tuition:   $849

Whether youíre a new bookkeeper, contract officer or department manager, youíre responsible for maintaining your tribeís financial records. Failure to record accurate information may cost your tribe thousands of dollars in disallowed costs and unnecessary audit time to correct the problems.

This class focuses on maintaining accurate accounting records for grants and contracts; reading and interpreting revenue expense and invoice documents; classifying cost data for bookkeeping purposes; financial statement basics; and the use of budgets. You’ll learn how to maintain a variety of financial records and how to spot potential recordkeeping errors before they become expensive audit mistakes. The class also includes a comprehensive, practical scenario to illustrate bookkeeping processes. We'll also discuss how the new OMB Super Circular , which was released December 2013, will apply to your tribal grant programs.

This is one training opportunity that you canít afford to miss! Register today

T O P I C S   I N C L U D E
Regulations and Compliance Requirements
  • Tribal government accounting system
  • Special reporting requirements
  • Federal regulations
  • Financial standards objectives
Accounting Basics
  • Using accounts/account structure
  • Accounting equation and transaction accounting
  • Elements of financial statements
  • Preparing basic financial statements
  • The accounting cycle
Designing and Developing an Accounting System
  • Selecting a basis of accounting
  • Cash basis
    • Single Entry
    • Double entry
  • Trial balance
  • Modified and full accrual basis
  • Understanding the GAAP for your organization
Centralized Accounting Department
  • Account code structure
  • Fund code
  • Program code
  • Sample account code structures
Developing Account Forms and Procedures for Record Handling
  • Standards for financial management records
  • Supporting documentation
  • Filing procedures for financial records/forms
  • Journals
  • Ledgers
Requirements for Grant Accounting and Reporting
  • Developing and maintaining a grant accounting system
  • General Accounting Office (GAO) requirements
  • OMB requirements
  • Standards for financial management systems
  • Professional pronouncements
  • Cash management system
Basic Cost Principles
  • Grant accounting vs. cost accounting
  • Direct and indirect costs
  • Allowable and unallowable costs
Elements of a Grant Accounting System
  • Operating controls
  • Accounting and compliance controls
  • Documentation
  • Record keeping
  • Audit trail and reporting
  • Deferred revenue and grants receivables
  • Encumbrance accounting
  • Grant close-out and yearend procedures
Automated Accounting System
  • Basics of an automated system
Simplified Financial Record-Keeping System
  • Daily cash activity
  • Analysis procedures
  • Accrual conversion
  • Financial statements and reports
Major Accounting System Components (General Ledger Postings)
  • Cash receipts/grant receivables/deferred revenue transactions
  • Cash disbursements/accounts payable transactions
  • Payroll transactions
  • Long-term debt transactions
  • Fixed asset transactions
  • Conversion from cash to accrual basis of accounting
  • Computerized journals and reports
  • GAO standards for governmental auditing
  • Testing methods
  • System review
  • Ensuring compliance with internal control system
Programs for Testing Recorded Transactions
  • Cash receipts
  • Cash disbursements
  • Purchasing, receiving and accounts payable
  • Illustrative test procedures
  • Payroll
  • Billing and receivables
  • Property and equipment
  • Evaluation of test results
Testing Account Balances and Audit Procedures
  • General procedures
  • Balance sheet accounts
  • Costs and expenses
  • Program funding
  • Indirect costs
Internal Controls
  • Questionnaire and guide
Preparing for the Audit
  • Model accounting system
  • Preparing for the audit
  • Understanding the audit
  • Anticipating questions and problems
  • Completion of a balance “tie-in” sheet
  • Creating lead schedules
Practical Exercises
  • Case study
  • Transactions throughout the life cycle of a grant or contract
  • Designing/creating a chart of accounts
  • Preparing basic financial statements for a grant

*Topics subject to change.

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