# Understanding Federal Financial Statements Course Canonical URL: ## Overview Learn how to prepare federal financial statements that meet the Office of Management and Budget (OMB) guidelines. Discover the importance of stewardship reporting. Learn to apply various techniques used to examine financial statements. Identify the impact of the Government Performance and Results Act (GPRA) on financial reporting. This course is part of the [Certified Government Auditor (CGA) program, Level 1](/certificates/certified-government-auditor-level-i-2024-march-requirements). ## What you'll learn - Explain the financial statement requirements of OMB Circular No. A-136. - Describe the preparation and analysis of the "basic financial statement. - Describe the form and content of annual financial statements as prescribed in OMB guidance. - Distinguish between budgetary and proprietary reporting. - Demonstrate program and financial performance analysis. - Recognize the importance of stewardship reporting. - Identify the impact of the Government Performance and Results Act (GPRA) on financial reporting. - Identify new costs of operations and financial flexibility. ## Curriculum #### Module 1: Overview of Federal Financial Reporting - Explain the importance of financial reporting for accountability and effective management in federal agencies. - Review the historical development of federal financial reporting requirements and key legislation. - Identify authoritative sources of federal financial reporting requirements and guidance. - Understand how financial reporting supports budgeting, performance measurement, and decision-making. #### Module 2: The Agency Financial Report - Understand the structure and purpose of the Agency Financial Report (AFR) and Performance and Accountability Report (PAR). - Apply OMB Circular A-136 provisions to meet form and content requirements for agency reports. - Describe the required sections including Management’s Discussion and Analysis, financial statements, and accompanying information. - Recognize deadlines, submission processes, and the role of federal reporting entities. #### Module 3: Form and Content of Financial Statements - Identify and describe the principal federal financial statements and related disclosures. - Explain the role of the U.S. Standard General Ledger (USSGL) in preparing statements. - Understand FASAB concepts and standards and their application in federal reporting. - Discuss the content and purpose of each statement, including Balance Sheet, Statement of Net Cost, and Statement of Budgetary Resources. #### Module 4: Financial Statement Audits - Explain the shared responsibilities of managers and auditors in the audit process. - Identify the scope, objectives, and procedures of a full-scope financial statement audit. - Understand audit opinions, internal control weaknesses, and compliance assessments. - Discuss ongoing challenges in producing reliable governmentwide financial statements. #### Module 5: Course Review Quiz - Review and reinforce key concepts from all modules. - Test understanding of financial reporting requirements, standards, and practices. - Assess readiness to apply knowledge in real-world federal financial management contexts. ## Schedule - Jul 6, 2026 – Jul 8, 2026 — Washington, DC - Aug 18, 2026 – Aug 20, 2026 — Washington, DC - Dec 16, 2026 – Dec 18, 2026 — Washington, DC ## Instructors ### Alan B. Robinson — Instructor Mr. Robinson is a seasoned legal and federal employment expert with over two decades of experience. He recently retired from the U.S. Department of Agriculture, Agricultural Research Service, where he spent 11 years as Deputy Director/Director for the Office of Outreach, Diversity, and Equal Opportunity (ODEO) and 8 years as Chief of Employee and Labor Relations. In these roles, he provided extensive guidance on federal employment matters, showcasing his deep expertise in labor relations and diversity initiatives. A graduate of the University of Virginia with a B.A. in Government, Mr. Robinson earned his Juris Doctorate from the University of Maryland School of Law. He is licensed to practice law in Maryland and the District of Columbia. Before his federal service, he built a robust legal career, starting as a law clerk for the Baltimore City Orphan’s Court, followed by 10 years as a civil defense litigator with a D.C. law firm, and later operating his own solo practice for 5 years. His private practice focused on representing federal agencies, employees, municipalities, and private entities in employment-related cases before the EEOC, Merit Systems Protection Board, and various courts. Currently, Mr. Robinson shares his wealth of knowledge as an adjunct instructor with the Graduate School USA and serves as a registered arbitrator for the Financial Industry Regulatory Authority (FINRA). His extensive background in law, federal employment, and diversity makes him a valuable resource in his field. ### Kent Miller — Instructor Kent D. Miller, Jr., MBA, CDFM-A, is a highly accomplished financial management expert and educator with over 40 years of experience in both the public and private sectors. A retired U.S. Army officer, Kent has held leadership roles such as Controller/CFO for the U.S. Army Missile Command and Program Manager/Financial Analyst for the Assistant Secretary of the Army. His expertise spans budgeting, cost analysis, managerial accounting, and financial systems implementation. Notably, he managed a $9 billion organization, supervised a financial staff of 150, and developed funding requirements and congressional testimony for senior Army leadership. Kent’s career also includes consulting and training, where he has developed over 50 courses and taught more than 20,000 students from federal agencies and contractors. As an adjunct instructor at Graduate School USA since 2005, Kent specializes in financial management training for federal employees. His courses cover a wide range of topics, including appropriations law, budget formulation and execution, and performance-based budgeting. Kent’s teaching is informed by his extensive experience in planning, programming, and budgeting, as well as his work in reengineering processes to achieve cost savings. He is also a Certified Defense Financial Manager with Acquisition Specialty (CDFM-A) and has been recognized for his leadership in professional organizations such as the Society of Defense Financial Management and the Association of Government Accountants. ### Alan McCain — Curriculum Program Manager Alan McCain is a retired combat veteran who served as both an Air Force enlisted member and a Navy officer. He brings over 30 years of experience spanning federal and commercial budgeting, auditing, programming, operations, global logistics support, supply chain and inventory management, as well as major IT acquisition. He possesses extensive, hands-on budget and audit experience across Federal, State, and Local government operations, including work within the Executive Office of the President and the Departments of State, Defense, Homeland Security, Health and Human Services, Housing and Urban Development, and Education, as well as the Office of the Mayor of Washington, D.C., among others. Alan’s consulting background includes strategic planning and business development with the District of Columbia government, multiple federal agencies, Lockheed Martin, KPMG, and PricewaterhouseCoopers. He is a Certified Government/Defense Financial Manager (CGFM/DFM), holds a Teaching Certification from Harvard University’s Bok Center for Teaching and Learning, and earned an Executive MBA in International Business from The George Washington University. ## Pricing **Tuition:** $1199