Governmental Accounting and Auditing Update: Year-End Planning

Author: Eric S. Berman

Year-end 2022 includes some major changes for states and local governments. GASB Statement Nos. 87, 91, 92, 93 and parts of GASB-99 may have an impact on your annual financial report. Hear about the latest changes to help you plan for this year’s annual audit.

Publication Date: November 2022

Designed For
Preparers of state and local government annual financial reports.

Topics Covered

• One last look at GASB-87, Leases
• The next big thing — GASB-91, Conduit Debt Obligations?
• GASB Statement Nos. 92 and 99, Omnibus 2020 and 2022
• GASB Statement No. 93, Replacement of Interbank Offered Rates
• Quick Overview of GASB Statement No. 100, Accounting Changes and Error Corrections and GASB Statement No. 101, Compensated Absences
• Quick overview of Federal Grant Accounting and Financial Reporting...just in case

Learning Objectives

• Describe the basics of GASB-87
• Describe the basics of Conduit Debt Obligations — GASB-91
• Recognize the overall provisions of GASB Nos. 92, 93, 99
• Identify the first step in determining the lease term and the first step in identifying lease components
• Identify an example of a short-term lease
• Identify the GASB Statement that dealt with the replacement of LIBOR
• Identify the area addressed by GASB Statement No. 101

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Accounting (Governmental) (1 hour), Auditing (Governmental) (1 hour)

Program Prerequisites
Basic knowledge of GAAP for state and local governments.

Advance Preparation
None