Experiencing Governmental Accounting: The Milford Project

• In Event: Reception: ELS Displays, plus Hands-On Technology Tips and AAACommons
  In Poster Session: Effective Learning Strategies Poster Presentations

Abstract

This ELS will present the transformative “Experiencing Governmental Accounting: The Milford Project”. The Milford Project allowed Accounting Senior Seminar students to enter the world of governmental accounting through the creation of the Town of Milford, NY’s accounting information system (AIS) from receipt and disbursement records, creation of its 2011 financial statements, preparation of an analysis of its financial position and the creation of an electronic QuickBooks based NYS compliant AIS . Work was completed on site at the town hall and at a campus conference room. A formal PowerPoint presentation to the members of the Town Board at a well attended public meeting and submission of hardcopy and electronic versions of the final report culminated the engagement. Transformation was evident as students expressed greater enthusiasm for and a better understanding of governmental accounting and its associated politics than had been noted in prior offerings of the course. The project's assignments included research into GASB GAAP, NYS required recording and reporting standards and publically available government financial reports including state and local Comprehensive Annual Financial Reports (CAFRs) as well as their personal reflections on the experience. All are relevant to advanced level courses such as Advanced Accounting, Governmental Accounting and/or Financial Analysis.

Author

• Priscilla Z Wightman, Hartwick College