Wrapping Up 2025, What You Need to Know for Calendar Year end Governments
Author: Eric S. Berman
| CPE Credit: |
2 hours for CPAs |
It is time to wrap up another calendar year for states and local governments. This year and next will be busy with the implementations of GASB Statement Nos. 102 through 104. Other changes may be coming soon. Hear what you need to know to prepare for this year-end while keeping an eye on the future.
Publication Date: December 2025
Topics Covered
- The Planning Calendar for this December 31st (and the next few years)
- GASB-101 Compensated Absences - Are We Ready?
- GASB-102 Certain Risk Disclosures - Is it an Issue for Your Government?
- GASB 2025 - 1 Implementation Guide Update - Focus Areas
- Gearing Up for GASB 103 and 104
Learning Objectives
- Identify the changes in accounting and financial reporting for states and local governments for calendar year-end 2025, with one last focus on GASB Statement Nos. 102
- Identify the implementation guidance released by the 2025 Implementation Guide Update
- Explain the current GAAP in progress including on Subsequent Events, Severe Financial Stress and Probable Dissolution Disclosures and Revenue and Expense Recognition.
- Identify the latest information on the federal Financial Data Transparency Act
- Identify a key area to review on payroll files under GASB-101
- Identify an example of a risk related to operations
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (Governmental) (2 hours)
Program Prerequisites
Basic knowledge of governmental accounting and auditing.
Advance Preparation
None
