MGFOA Advanced Accounting & Financial Reporting

Tue, Nov 1, 2016

November 1, 2016
8:30am - 4:30pm

Okemos Conference Center
2187 University Park Drive
Okemos, MI 48864
Driving Directions

This advanced accounting session is meant to explore the background and theory underlying Governmental GAAP - not just “how to” apply those principles. Attendees should expect to become more self-reliant, including understanding how to prepare their own CAFR, how to research questions which arise in their operations and how to benefit more from discussions with their auditors. 

This seminar qualifies for 8 Governmental Accounting & Auditing CPE credits.

Registration Fees:

Early Registration Fee:
Member - $100
Non-Member - $150

Late Registration Fee, after October 25:
Member - $120
Non-Member - $170

You will receive the early registration price if you are registered by October 25, 2016.

No refunds will be made for cancellations after October 25, 2016
* Add $5 if you use the hard-copy registration form at the bottom of this page.

About the presenters: 

Joe Heffernan, CPA, has been with Plante Moran, doe 37 years, serving local units of government and is in charge of Professional Standards for Public Sector Group. Joe is an honorary life member of the MGFOA, and is currently the Chair of the MGFOA’s Accounting Standards Committee (since 1991). Joe has national experience with his role on the American Institute of CPA’s State & Local Government Expert Panel, as well as various GASB projects.

Karen Lancaster, CPA, CPFO, is the finance director for the City of Ann Arbor and has worked at the City for 23 years.  Prior to working in city government, Karen worked for Coopers & Lybrand as an auditor. Karen is a Past President of the MGFOA and currently chairs the Strategic Planning Committee.  In addition to the MGFOA, Karen is a member of the GFOA, AICPA and MICPA.

Program Overview:

This program will keep you engaged. We will use an interactive Q&A format to take a deep dive into the following topics:

  • Purpose of the government wide statements v. the Fund based modified accrual statements;
  • Revenue recognition principles for modified accrual funds (Period of availability, Nonexchange rules, etc.);
  • Modified accrual expenditure recognition principles (applying when not paying with current financial resources, year-end cut-off procedures, etc.);
  • Full accrual government nwide statement issues (capitalization policies, estimating liabilities, pension/ OPEB);
  • Cost allocation considerations (internal service funds, charging indirect costs between funds, allocating too programs & functions);
  • Interim financial reporting (and use of narratives);
  • Management’s role in year-end financial reporting;
  • Specific hot topics (Tax abatements, OPEB, Leases)

Who should attend:

This course will be an advanced session, training level 400; it will be assumed that attendees have substantial knowledge and significant experience with governmental accounting and financial reporting.  Topics will start at a high level and take a deep dive into the accounting theories underlying the concepts to be discussed. 

Registration Policies:

Class size is sometimes limited, so please register early. Pre-registration is required so we can notify registrants if unforeseen circumstances require us to cancel or reschedule a course.
Confirmations of registrations are sent via email. You may also check the status of your registration by clicking on “View Registrations” at
Reservations made by mail, fax, or online, unless cancelled, will be considered a commitment to attend. No shows will be billed, since meeting and meal arrangements have to be made for all registrants.

Special Needs:

If you have a disability and need special accommodations or require a special diet, please notify MGFOA by checking the box on the registration form. We cannot accommodate such requests on the day of the program. Please wear layers of clothing for your comfort, as we are not always able to control room temperature.