Governmental Accounting and Auditing Update: Year-End Planning

Author: Eric S. Berman

Year-end 2022 includes some major changes for states and local governments. GASB Statement Nos. 87, 91, 92, 93 and parts of GASB-99 may have an impact on your annual financial report. Hear about the latest changes to help you plan for this year’s annual audit.

Publication Date: November 2022

Designed For
Preparers of state and local government annual financial reports.

Topics Covered

• One last look at GASB-87, Leases
• The next big thing — GASB-91, Conduit Debt Obligations?
• GASB Statement Nos. 92 and 99, Omnibus 2020 and 2022
• GASB Statement No. 93, Replacement of Interbank Offered Rates
• Quick Overview of GASB Statement No. 100, Accounting Changes and Error Corrections and GASB Statement No. 101, Compensated Absences
• Quick overview of Federal Grant Accounting and Financial Reporting...just in case

Learning Objectives

• Describe the basics of GASB-87
• Describe the basics of Conduit Debt Obligations — GASB-91
• Recognize the overall provisions of GASB Nos. 92, 93, 99
• Identify the first step in determining the lease term and the first step in identifying lease components
• Identify an example of a short-term lease
• Identify the GASB Statement that dealt with the replacement of LIBOR
• Identify the area addressed by GASB Statement No. 101

Level
Update

Instructional Method

NASBA Field of Study
Accounting (Governmental) (1 hour), Auditing (Governmental) (1 hour)

Program Prerequisites
Basic knowledge of GAAP for state and local governments.

Advance Preparation
None