Basic understanding of current governmental generally accepted accounting principles.
Those responsible for the oversight, accounting, and financial reporting for governments, as well as auditors of governmental financial reports.
In May and June of 2019, the Governmental Accounting Standards Board (GASB) is expected to release Exposure Drafts for four of its projects:
- Subscription-based Information Technology Arrangements: Addresses the accounting and financial reporting for subscription-based information technology arrangements (SBITAs), and potential guidance for cloud computing arrangements.
- Public-Private Partnerships, including a Reexamination of GASB Statement No. 60: Addresses the accounting and financial reporting for public-private partnerships, and potential amended or new implementation guidance for service concession arrangements.
- Deferred Compensation Plans– Reexamination of GASB Statement No. 32: Addresses the accounting and financial reporting for IRS Code Section 457 Deferred Compensation Plans.
- Omnibus: Addresses various technical corrections and other practice issues that have been identified by the GASB.
This 2-hour internet training is designed to provide participants with the most recent proposed guidance on these GASB projects.
- Understand the proposed guidance provided in the GASB’s most recent Exposure Drafts on the accounting and financial reporting for SBITAs, public-private partnerships, and deferred compensation plans.
- Be aware of the various technical corrections and other practice issues that GASB has addressed in its most recent OmnibusExposure Draft. Some of these issues include: the definition of “collections”; reporting of intra-entity transfers of assets in pension and OPEB plan reporting; and exceptions to the use of acquisition value in a government acquisition.