Master Certificate in Federal Financial Management Level I Certificate Program (Self-Paced)
IDMCFFM1.CPSP

Learn the key concepts, laws, and procedures that underpin effective financial management in the federal government. This course covers budgeting, accounting, and internal controls to help you align financial systems with performance goals.
Understanding financial management roles and federal budgeting processes.

• Linking financial information to performance measurement and management.
• Applying basic principles of federal accounting and financial reporting.
• Exploring the purpose and structure of internal controls and financial systems.
• Adhering to government-wide policies for cash and debt management.

Discover the principles and concepts of federal budgeting, from preparation to execution, in this introductory course. You will explore key elements such as budget formulation, justification, and compliance to manage federal funds effectively.

• Overview of the federal budget process and key legislation.
• Understanding appropriation types and the flow of budget authority.
• Fundamentals of budget formulation and execution.
• Performance measurement and setting goals under the Government Performance and Results Act.
• Writing and justifying a federal budget in compliance with OMB guidance.
• Tracking and analyzing costs to ensure budget compliance.

Learn the principles of federal accounting, including accrual concepts, journal entries, and financial statement preparation. This course provides hands-on training to help you manage accounts, maintain ledgers, and ensure compliance with federal standards.

• Applying federal accounting and financial management concepts.
• Recording budgetary and proprietary transactions in the financial system.
• Preparing, adjusting, and closing entries for accurate financial reporting.
• Generating trial balances and external financial reports.
• Understanding the form and content of federal agency financial statements.

Learn how to structure and conduct compliance assessments under the Federal Manager's Financial Integrity Act and OMB Circular A-123. This course covers internal control standards, evaluation techniques, and reporting requirements for identifying and addressing deficiencies.

• Importance of internal controls for achieving organizational objectives.
• Requirements of the Federal Manager's Financial Integrity Act and OMB Circular A-123.
• Establishing and assessing effective internal control systems.
• Identifying and reporting deficiencies and material weaknesses.
• Auditors' roles in applying standards for internal control assessments.

Gain a comprehensive understanding of federal appropriations law and its application to government spending. This course uses the GAO Principles of Federal Appropriations Law (Red Book) to teach participants how to determine the availability of appropriations and avoid Antideficiency Act violations.

• Interpreting and applying federal appropriations law to agency budgets and expenditures.
• Determining the availability of appropriations as to purpose, time, and amount.
• Understanding the legal framework and obligation of appropriations.
• Operating under continuing resolutions and managing appropriations.
• Applying Comptroller General Decisions to organizational activities.
• Assessing propriety, timing, and legality of expenditures.