FASAB: Federal Accounting and Reporting Annual Update 2025
Overview
This course will be an overview of:
- Participants will gain a practical and relevant understanding of the sources of guidance for federal financial accounting and reporting, the theoretical foundations for accounting and reporting requirements, and the mechanics of dual track accounting from journal entry to trial balance to financial report.
This description is subject to change
Learning Objectives
After completing this course, the learner should be able to:
- Identify the roles and responsibilities of various federal departments in the development of accounting principles and the administration of accounting, budgeting, and auditing issues
- Describe the financial reporting and accounting theory published by the Federal Financial Accounting Standards Advisory Board (FASAB) in their Statements of Federal Financial Accounting Concepts
- Describe the account structure of the U.S. Standard General Ledger and the systems that comprise federal data gathering
- Apply bookkeeping procedures to dual track accounting requirements from transactions through the financial statements
These objectives are subject to change
Details
- Field of Study
- Accounting (Governmental)
- Credits
- 2.5 Credits
- Provider
- Becker Professional Education
- Knowledge Level
- Basic
- Advanced Preparation
None
- Course ID
- 40415/47076
- Publication Date
- 04/30/2026
- Planned Expiration
- 05/31/2027
- Prerequisites
One to three years of audit experience
Instructor
Tom Cox CPA, CMA
Tom Cox is a controller for Public Risk Underwriters of Florida, Inc. (PRU), a Brown & Brown subsidiary that offers accounting and underwriting support to the Preferred Governmental Insurance Trust, a public entity risk pool providing property and casualty insurance to local governments in Florida. Prior to joining PRU, Tom’s experience includes nearly twenty years as the chief financial officer of the Act, Corp., a not-for-profit community mental heath center in Daytona Beach, and, before that, about ten years at Ernst & Young where he was an audit manager specializing in governmental and not-for profit accounting and auditing.
Tom has also been an instructor for Becker Professional Review in Orlando since 1990 and been involved with various elements of either course editing and updates or course development since 1991 including governmental auditing. A senior faculty member for the course, Tom’s duties have also included national instructor for various elements of the review program and both presentation and development of continuing professional education courses. He is a 1978 graduate of Stetson University, a member of the Institute of Management Accountants since 1980 and a member of both the American and Florida Institutes of Certified Public Accountants since 1982. Tom is a Certified Public Accountant (CPA) and a Certified Management Accountant (CMA).
Education
- Stetson University: Bachelor's of Business Administration
Teaching & Instruction
Business
Organizations
What do you love about Becker?
"The opportunity to help young and seasoned professionals achieve their goals. It is particularly gratifying to get notification of a new CPA or CMA who announces their success and acknowledges that you have helped them achieve this life-changing accomplishment."
What would you tell an accounting student today?
"The accounting profession and accounting careers offer the stability, flexibility, and financial rewards that are worth pursuing. And even if the degree or credential takes you in another direction, the knowledge you earn benefits you, your family, and our society. Life is always better when you understand how the money works. And if you get the double meaning, you are on your way to understanding the significance of what you learning how to do."
Becker fun facts
- I am an Alaskan native! (courtesy of my father's military career)
- I love bicycling and have taken the opportunity to cycle in a number of European countries (Holland, France, Germany, and Italy) as well as some great destinations in the US (Maryland's Eastern Shore and Martha's Vineyard)
- I eat three apples every day (since 1990) after Newt Becker introduced me to the "Save Your Life Diet"
Accreditations
- 1 year course access
- NASBA-approved content
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