GASB 34, Basic Financial Statements – and Management’s Discussion and Analysis – for local government continues to change the way counties prepare and review their financial reports. This course will build you understanding of GASB 34, and provide an update of GASB-related pronouncements, exposure drafts and future agenda items. Participants review key concepts such as basic financial statement formats, reconciliations of government-wide financial statements to the funds financial statements, note disclosures and infrastructure capital assets. Other objectives include:

• Examine key technical elements, plus analytical and statistical matters;
• Recognize accounting, financial reporting and disclosure issues;
• Explore new GASB pronouncements and future items;
• Determine internal controls for government and audit risk assessments using the C&L Risk-Based Audit Approach and the COSO Framework;
• Review new pension standards: GASB 67 and 68; and
• Detailed review of the county Comprehensive Annual Financial Report.

Course eligible for CPE credits for Certified Public Accountants.

Instructor:  Gary M. Caporicci, CPA CGFM, senior partner and co-founder of Caporicci & Larson, Certified Public Accountants.