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UNC School of Government

Accounting and Auditing Update

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Description

This 1-day course will focus on new and emerging governmental accounting and financial reporting requirements – and there are many. Recent pronouncements of the Governmental Accounting Standards Board (GASB) will be highlighted, specifically GASB Statement Nos. 67 and 68, commonly known as the pension standards. NC governments will be implementing these with the FYE 6/30/15 reports, so the time is here. Also, there is a detailed preview of the new proposed standards that basically mirror the pension standards – the accounting and financial reporting requirements for other postemployment benefits (OPEB). In addition, there will be a review of the GASB's technical agenda, as well as common accounting and financial reporting problems. The agenda will also include an auditing update from the Local Government Commission that will focus on recent changes to the auditing standards and common reporting issues related to single audit and compliance reports.

Topics for this year's program:

  • Pension Update – Common Issues with 68, 73, and 75
  • GASB Update – Leases, Fair Value Accounting, Abatements, Investment Pools
  • GASB Agenda – Financial Reporting Model, Asset Retirements
  • GASB Implementation Guide Update – 2016
  • Common Accounting and Reporting Problems
  • LGC Auditing and Compliance Update

Who should attend

Experienced finance officers and finance staff

Experts

Gregory S. Allison is a teaching professor at the School of Government, where he lectures and provides technical support in the field of governmental accounting and financial reporting. He has been on the faculty since 1997 and is director of the School’s Municipal and County Administration cours...