Lesson: Governmental Accounting: Measurement Focus and Basis Overview and Objectives

In this lesson, Nick Palazzolo, CPA, takes on the intricate world of governmental accounting, underlining how distinct it is from corporate and not-for-profit accounting. He places special emphasis on the unique considerations applicable to municipalities, towns, and counties rather than federal entities, preparing for an in-depth exploration of the state and local levels. With a focus on the measurement focus and basis of accounting used by these governmental units, Nick aims to clarify complex concepts, encouraging a meticulous approach to mastering this challenging material. By the end of this engaging session, the foundation for understanding fund and government-wide financial reporting within the state and local government sphere will be solidly laid out.