This session will provide an 'up close' look at many of the changes that will be applicable to fiscal year 2018 financial statements and beyond, with an emphasis on the accounting and financial reporting changes required for Other Post-Employment Benefits (OPEB). In addition, a number of other new or newly applicable Governmental Accounting Standards Board (GASB) statements will be reviewed closely, along with updates on what to expect down the road in later fiscal years. In addition, we will take a brief glance even farther ahead at the concept of a new reporting model—yes, a new reporting model—current exposure drafts, preliminary view documents, and other items of interest.
After completing this course, you will be able to:
- Identify the problems common in year two of implementation of GASB Statement Nos. 68 and 71
- Review highlights of GASB Statement Nos. 72–82, noting those specifically with applicability in the current year
- Discuss the vision of the GASB regarding standard setting by reviewing exposure drafts and future project agenda
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