Federal Accounting Procedures and Process

Understands the Federal accounting process, including principles and standards outlined by the Federal Accounting Standards Advisory Board (FASAB), Office of Management and Budget (OMB), U.S. Treasury Regulations, American Institute of Certified Public Accountants (AICPA), professional accounting organizations and the U.S. Comptroller General.

Key Behaviors:

  • Understands and applies Federal accounting standards
  • Provides internal and external stakeholders with the types of financial information they require
  • Understands the issues involved in Federal Government accounting
  • Possesses knowledge of proprietary/accrual and budgetary accounting
  • Possesses knowledge of the Appropriation process
  • Develops, documents, and implements accounting procedures to meet accounting/reporting requirements due to changes in laws, rules and regulations

Developmental opportunities for this competency are available from the NIH Training Center.