This course will cover updates on GASB-related pronouncements, exposure drafts and future agenda items. Participants will learn to master GASB 34 and study the new GASB Pension and OPEB Standards in exercises using actuarial accounting valuations and the resulting note disclosures. Concepts will be reviewed using a California City's Annual Comprehensive Financial Report, including basic financial statement formats, reconciliation of government-wide financial statements to the fund's financial statements, note disclosures and infrastructure capital assets.
Learning Objectives
• Determine GASB's basic financial statements, including the components of a City's Annual Comprehensive Financial Report
• Recognize accounting, financial reporting and disclosure issues
• Identify GASB pronouncements, exposure drafts and future agenda items
Major Topics
• Internal controls and risk assessments using a risk-based audit approach
• New Pension and OPEB Standards, including GASB Statement Nos. 68 and No. 75
• COSO for Smaller Entities and Governments
• Survey of California Cities and Counties (17th Annual)
• New GASB Standards updated with an emphasis on GASB 84, Fiduciary Activities and GASB 87, Leases
• GASB's "Big Three" Projects
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