Impact of GASB Activities on State and Local Government

Overview

Recently issued GASB standards deep dive

If you are an accountant or finance professional working in the state and local government space or an auditor with state and local government clients, you’re aware that to succeed at your job and to uphold the public trust, you need a solid understanding of governmental accounting and reporting.

This course will walk you through GASB standards and look to the future by exploring current GASB projects.

Implementing your new knowledge

Realistic case studies help you apply the knowledge you gain so you are better prepared to implement these standards.

Standards covered in these case studies include the following:

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

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

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.

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by AICPA.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Bruce Shepard

Leader Bios

Bruce Shepard

Bruce Shepard, CPA, was most recently an assistant professor of accounting at George Fox University and an adjunct professor of accounting at the University of Oregon, prior to becoming an instructor for the AICPA in 2012. From 2006-2010, Shepard was the CFO of Las Vegas Gaming, Inc. in Las Vegas, Nevada, where he had full management responsibility for all financial affairs, daily business operations, administration and human resources. From 1985-2006, Shepard was in charge of the Middle Market Practice for PricewaterhouseCoopers, LLP in Portland, Oregon, where he served as an assurance partner focusing on providing proactive business advisory services to fast-growing companies.

At PricewaterhouseCoopers, LLP, Shepard spearheaded more than 100 acquisitions and divestitures by leading the financial structuring and negotiations. He worked with clients to develop strategic plans for short-term and long-term growth and assisted companies with attaining their needed growth capital. Shepard was awarded “Beta Alpha Psi Professional of the Year” in 2006 for sustained involvement with the University of Oregon.

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