GASB Basic Financial Statements for State and Local Governments 2024
8.00 Credits
Member Price $299
Non-Member Price $399
Overview
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.
Highlights
- 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
Prerequisites
An understanding of governmental accounting and financial reporting.
Designed For
CPAs, governmental accountants and financial professionals.
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
Preparation
None
Leader(s):
Leader Bios
Gary Caporicci, AICPA
Gary M. Caporicci, CPA, CGFM, CFF, is a senior partner and co-founder of Caporicci ; Larson, Inc. Certified Public Accountants, a subsidiary of MarcumLLP. Mr. Caporicci has over 30 years of audit and management experience and is responsible for the Firm’s Auditing and Accounting practice. Mr. Caporicci has extensive experience and knowledge in auditing and consulting for many government agencies. He has authored many audit and accounting courses and has been a frequent speaker and lecturer at many professional organizations. He is a Core Adjunct Professor at National University teaching government accounting, auditing and other upper division and graduate courses. In 2006, Mr. Caporicci was awarded Instructor of the Year for California CPA Education Foundation. He participated as a member of the Governmental Accounting Standards Board (GASB) Task Force on Deposits and Investment Risks Disclosure (GASB No.40) and is a member of the Governing Council of the California Society of CPAs. In 2010, Mr. Caporicci was awarded The Conference Volunteer of the Year for California CPA Education Foundation. Mr. Caporicci has written AICPA Accounting and Audit Guides for government and construction. In addition he has authored and instructed many governmental seminars and conferences. Mr. Caporicci’s was Chair of the California Committee on Municipal Accounting , Chair of the California Governmental Accounting and Auditing Committee and Chair and speaker of CalCPA’s Governmental Accounting and Auditing Conference. He is also a member of the CalCPA Council and National Reviewer for the Government Finance Officers Association.
Non-Member Price $399
Member Price $299