Is Your Government a Going Concern?
Author: Eric S. Berman
| CPE Credit: |
2 hours for CPAs |
The Governmental Accounting Standards Board (GASB) is releasing its Preliminary Views on Severe Financial Stress (SFS) and Probable Dissolution (PD) Disclosures. The project is potentially controversial for some governments in some cases due to defined benefit pension and OPEB liabilities. Hear what is in the document and where the project may head in the future.
Publication Date: July 2025
Topics Covered
- How Did Auditing Standards Become Accounting Standards?
- What is the Current 'State of Play' with Going Concern?
- What is in the GASB's Severe Financial Stress and Probable Dissolution Disclosures Project?
Learning Objectives
- Describe the GASB’s project on Severe Financial Stress (SFS) and Probable Dissolution (PD) Disclosures
- Explain the relationship between SFS and PD
- Explain how to gather information on potentially assessing SFS
- Explain what may be disclosed if SFS is present
- Explain how to information on potentially assessing PD and disclosing if PD is present
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Accounting (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
