Understanding GASB’s Exposure Drafts on Subscription-based IT Arrangements, Public-Private Partnerships, Deferred Compensation Plans, and the Omnibus Project

Training Type: 
Webinar
Date and Time: 
Jul 17 2019 - 2:00pm to 4:00pm  EDT
Level: 
Intermediate
Field of Study: 
Accounting – Governmental
CPE Credits: 
2
Member Price: 
$85.00
Non-Member Price: 
$160.00
Prerequisite: 

Basic understanding of current governmental generally accepted accounting principles.

Speakers: 
Director, Technical Services
GFOA
Who Will Benefit: 

Those responsible for the oversight, accounting, and financial reporting for governments, as well as auditors of governmental financial reports.

 

Program Description: 

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.    

Seminar Objectives: 
  • 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.  
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