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Accounting for Debt-Funded Capital Assets

For a typical state and local government, the large dollar investment usually associated with acquiring or constructing capital assets often necessitates the issuance of long-term debt. This course will take an example of capital construction funded with long-term debt and walk through the required journal entries for recording activity associated with the constructed capital asset and its related debt issuance. An Excel workbook file is also provided as a companion to the course which includes all of the journal entries.

Learning Objectives:

  1. Identify the key differences between reporting for capital assets and debt in governmental funds and governmental activities.
  2. Determine the appropriate valuation for reporting capital assets, and their proper depreciation or amortization.
  3. Prepare the required journal entries for the acquisition, funding, and sale of capital assets.
Where
GFOA Learning Management System (LMS) https://learn.gfoa.org/

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