Change is inevitable and at times overwhelming if you are unprepared. Ensure that you understand the recent developments in governmental and not-for-profit accounting and auditing. This update course is designed to prepare you for the latest accounting and auditing developments affecting governments and not-for-profits and give you the tools and knowledge to implement the new standards. Understanding new standards that affect governmental and not-for-profit accounting Recent updates to accounting and auditing standards will change how governmental and not-for-profit accounting and auditing is performed. You’ll learn how to implement and understand recent additions, including:
GASB Statements
FASB Accounting Standards Updates
Auditing Standards Board Updates
Changes to *Government Auditing Standards* Detailed scenarios to increase your comprehension Real-world examples help increase your comprehension of how to implement the changes in your work. You’ll be empowered to properly identify when new standards should be applied.
Learning Objectives
Identify the effect of GASB statements on accounting and financial reporting for state and local governments.
Identify the projects that are on the active standard-setting agenda and their objectives.
Identify when a liability should be recorded for compensated absences.
Apply the disclosure criteria related to concentrations and constraints to determine whether and how to make disclosures required under GASB Statement No. 102,
Certain Risk Disclosures
.
Identify how FASB's Accounting Standards Updates affect not-for-profit financial statements.
