Current Due Process Documents and Projects of the GASB
Author: Eric S. Berman
| CPE Credit: |
2 hours for CPAs |
The Governmental Accounting Standards Board has a busy due process calendar as calendar year 2024 closes. This includes two important Preliminary Views documents relating to infrastructure assets and whether a government is a going concern or under severe financial stress. The GASB also has exposure drafts available for an important implementation guide update and changes to subsequent events reporting. Hear about these important proposals and how to present your views to the GASB.
Publication Date: November 2024
Designed For
Basic governmental accounting
Topics Covered
- Going Concern Uncertainties and Severe Financial Stress (Preliminary Views)
- Implementation Guide Update (Exposure Draft)
- Subsequent Events (Exposure Draft)
- Revenue and Expense Recognition (Exposure Draft)
Learning Objectives
- Explain the proposed clarifications within the GASB’s Implementation Guide Update and Subsequent Events exposure drafts
- Explain GASB’s preliminary views on potential changes to infrastructure reporting and their views on recognizing when a government may have an issue of going concern or is under severe financial stress
- Explain how you can provide vital feedback to the GASB on these due process documents
- Identify how many new questions and answers are included in the Implementation Guide Update 2025 – Exposure Draft
- Identify the due date for comments on the subsequent events exposure draft
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
Basic governmental accounting
Advance Preparation
None
