Financial Report

Budget and Accounting Principles

Course ID


Continuous Learning Points (CLPs)


Course Length

2 Days





Coming soon


Coming Soon

To order this class, call or email us at:


This two-day, elective course helps accountants and budget analysts understand the importance of budgeting and how this process maps to the need for accuracy in accounting for the items in the budget. This course covers the primary differences between accounting and budgeting, why each is important, and what information is available as a result of each practice. This course covers the difference between the fiduciary responsibility of accountants and the program accountability of budget developers. Budgeting and accounting both have relevance in the science of business management. This course uses case studies and participant participation to demonstrate the importance of accounting and the value of budgeting.

Learning Objectives

• Understand the principles of accounting and why there is a need for accurate accounting estimates to develop good budgeting estimates
• Develop and understand the Federal budgeting process
• Understanding the importance of good accounting principles
• Define and understand key accounting and budgeting terminologies
• Understand key generally accepted accounting principles / generally accepted government accounting principles (GAAP/GAGAS) and how they map to formulation and execution or budgets
• Understand any agency-specific policies with respect to accounting and budgeting
• Learn the importance of using prior years spending amounts to determine present budgeting requirements
• Apply learned knowledge to record, classify, and interpret accounting statements and apply cross-checks to budget formulation and execution processes