GASB Requesting Input on Reporting of Nonfinancial Assets

The Governmental Accounting Standards Board (GASB) is conducting a survey of preparers of governmental financial statements regarding the reporting of nonfinancial assets. The survey is part of a GASB research effort that, in part, will evaluate the need for specific guidance related to the nonfinancial asset classification. (Further information about the research can be found below.)

The survey should take about 10–15 minutes and can be accessed by clicking here.

The deadline for completing the survey is November 24, 2020.

If you would like to review the survey before responding, you can download it in its entirety from the first page of the survey. You also can save your survey answers once you have started and return to complete the survey later.

Thank you in advance for your feedback. Your input is vital to the GASB’s efforts to improve accounting and financial reporting.

If you have any questions, please feel free to contact Erin McKenzie, Project Manager (emckenzie@gasb.org). We look forward to hearing from you.

GASB Hosting CPE Webinars on the Exposure Draft, Financial Reporting Model Improvements

The Governmental Accounting Standards Board (GASB) is hosting a pair of webinars that will focus on the Board’s recently issued Exposure Draft, Financial Reporting Model Improvements.

This series of IN FOCUS webinars will be offered under the following schedule:

For Financial Statement Users
November 20, 2020, 2:00–3:00 p.m. EST

For Preparers and Auditors
December 15, 2020, 2:00–4:00 p.m. EST

Participants in the live webinars (which are offered free of charge) are eligible for 1 or 2 hours of continuing professional education (CPE) credit depending on the length of the event. CPE credit is not available for group viewing of the live broadcast.

The webinars will be conducted by Roberta Reese, Lisa Parker, and Scott Reeser, GASB senior project managers, and Janeen Hathcock, GASB associate practice fellow. Dean Mead, GASB senior research manager, will moderate the webinar for users. David Bean, GASB director of research and technical activities, will moderate the webinars for preparers and auditors.

Participants will have the opportunity to ask questions during the webinar.

An archive of the webinars will be available on the GASB website after they have taken place. (CPE credit will not be available to those who view only archived webinars.)

For more information, visit GASB Educational Webinars and Webcasts.

FINAL REMINDER—GASB Survey on Prior-Period Adjustments, Accounting Changes, and Error Corrections

NewGASB(RELEASE) – The deadline for completing the GASB’s survey of financial statement preparers is approaching—Friday, May 10, 2019. If you already have responded, thank you for taking the time to share your views with the GASB.

The survey is part of a GASB research effort to evaluate the effectiveness of existing guidance. (Further information about the research effort can be found on the dedicated page on the GASB website).

The survey generally should take about 30 minutes and can be accessed by clicking here.

If you would like to review the survey before responding, you can download it in its entirety from the first page of the survey. You also can save your survey answers once you have started and return to complete the survey later.

Again, thank you in advance for your feedback. This input is vital to the GASB’s efforts to improve accounting and financial reporting.

If you have any questions, please feel free to contact Emily Paul (ecpaul@gasb.org).

GASB Public Comment on Financial Reporting Project Open

By Dan Smith, ABFM Chair & GASAC Representative

I’d like to call your attention to goings on at GASB, specifically its project to reexamine financial reporting for Governmental Funds. On February 22, GASB gave an excellent webinar explaining the project. The archived webinar will be made available, but in the meantime you can click here to view the slides. Prior to that, GASB posted this invitation to comment, which I hope you will examine if you use government financial statements or the data from those statements – such as the data on state and local government finances collected by the U.S. Census Bureau – in your research or teaching.

Of course you are welcome to submit comments on your own, but I’d like to hear from you if you believe a response as an organization would be appropriate. In my experience on the Governmental Accounting Standards Advisory Council, an organization-wide comment would carry more weight. But I don’t want to assume there’s sufficient interest. Comments are due March 31, so please write me with your thoughts at your earliest convenience at dansmith@udel.edu.

GASB Accepting Proposals for 2016 Crain Research Grant, Deadline May 31st