Impact of GASB Activities on State and Local Government - Society of Louisiana Certified Public Accountants

Overview

Are you ready to implement GASB’s recently issued standards? You’ll walk through each standard and provide real-world information regarding newly effective standards.

Highlights

GASB Statement No. 103, *Financial Reporting Model Improvements*

GASB Statement No. 104, *Disclosure of Certain Capital Assets*

GASB Implementation Guide No. 2025-1

GASB projects

Prerequisites

Knowlege of accounting for transactions in governmental entities

Designed For

Preparers of government financial statements

Auditors of government financial statements

Users of government financial statements

Objectives

Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
Identify the projects that are on the active standard-setting agenda and their objectives.
Apply the provisions of GASB Statement No. 103,
Financial Reporting Model Improvements
, to select portions of governmental financial statements.
Apply the disclosure criteria related to capital assets to determine how to make disclosures required under GASB Statement No. 104,
Disclosure of Certain Capital Assets
.
Identify the effect of select questions and answers included in GASB Implementation Guide No. 2025-1 on financial accounting and reporting for governmental entities.