Does any one know about Comprehensive Annual Financial Reports?

The information relayed on this webpage is generally correct. Here is an example of a CAFR for the State of California: http://www.sco.ca.gov/ard/cafr/cafr00.shtml

I just completed a course in this subject last spring. Here is the description of the course in my college’s catalog. If you have an interest in accounting or hold or plan to hold a governmental position, this would be a good course to consider taking.

ACCT 153 Governmental Accounting (formerly Government Auditing) 3 Units
Prerequisite: ACCT 301 with a grade of “C” or better.
Hours: 54 hours LEC
This course covers accounting and financial reporting for governmental
units and institutions with emphasis on the accounting standards
prescribed by the Governmental Accounting Standards Board
(GASB). Additional topics include governmental budgeting and
budgetary controls. This course is typically offered Spring semester
only.