Introduction to Federal Accounting and Reporting
Learning objectives

Practical concerns about financial controls and accountability for public funds are as foundational to our democratic ideals as due process.  The U.S. Constitution anticipates the segregation of financial duties between the executive and legislative branches to promote strong controls.  In addition, federal regulations similarly divide responsibilities at the Federal department level to provide accounting, budgetary and audit controls over accounting and reporting at the agency level.  The dual track accounting system required for federal agencies integrates budgetary and actual transactions.  At the conclusion of this session you will 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.
Photo of John Lord

Instructor bio

John Lord, CPA, is the State of California’s Regional Lead Faculty for Becker Professional Education. In addition to teaching live CPA classes primarily in the San Francisco, California area, John is responsible for helping to recruit, train, and develop CPA instructors throughout the State. During his almost 16 years with Becker, John has become one of the organization's most popular and effective instructors - nationwide. His expertise on the exam, commitment to his students, and real world experience are all qualities his students cite as keys to their own success on the CPA exam. John is also an Adjunct Professor at Golden Gate University in San Francisco, CA as well as a national instructor for Becker’s Continuing Professional Education focusing on governmental accounting and auditing topics. For nearly 23 years, John has also served as a Senior Audit Manager for the Government Accountability Office which is the audit, evaluation, and investigative arm of the U.S. Congress. In his capacity with the GAO, John has led audits of the Bureau of Public Debt and IRS. He has also led work with the GAO reviewing the accounting and auditing standards setting process in the United States where he was actively involved with the Auditing Standards Board and Financial Accounting Standards Board. John holds a Bachelors of Science Degree from the California State University in Hayward, California and is an active U.S. Certified Public Accountant (California) and a former President of the Association of Latino Professionals in Finance and Accounting.

National Registry of CPE Sponsors

A Becker Professional Education is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823

Now Leaving

You are leaving the website. Once you click “continue,” you will be brought to a third-party website. Please be aware, the privacy policy may differ on the third-party website. Adtalem Global Education is not responsible for the security, contents and accuracy of any information provided on the third-party website. Note that the website may still be a third-party website even the format is similar to the website.