The GASB has issued several new pronouncements that will change financial reporting and disclosure for governments. This course will discuss the newest GASB pronouncements starting with GASB 72 and going through GASB 76. Any further GASB pronouncements issued through early 2016 will also be covered. In addition, this program contains a section on the 2013 guidance, Internal Control in the Federal Government, and a compliance auditing update including the latest information on implementing the Uniform Guidance.
DESIGNED FOR
Audit practitioners working on audits of state and local governments. Accountants in industry who want to remain up to date on financial accounting, reporting and compliance requirements.
BENEFITS
- Recognize and apply major accounting and disclosure issues impacting governments
- Apply the principles outlined in the GAO’s Internal Control in the Federal Government to governments (as modified by the 2013 guidance)
- Implement the changes to administrative requirements and cost principles as required by the Uniform Guidance
- Implement the audit process changes required by the Uniform Guidance
HIGHLIGHTS
- GASB 72, Fair Value Measurement and Application
- GASB 73, Accounting and Financial Reporting for Pensions and Related Assets not within the Scope of GASB 68 and Amendments to GASB 67 and 68
- GASB 74, Financial Reporting for Postemployment Benefit Plans other than Pensions
- GASB 75, Accounting and Financial Reporting for Postemployment Benefits other than Pensions
- GASB 76, Hierarchy of GAAP
- Administrative, Cost and Audit Requirements within the Uniform Guidance
- Internal Control in the Federal Government
COURSE LEVEL
Intermediate
PREREQUISITES
Basic familiarity with governmental accounting.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- Qualifies for Yellow Book.