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Track 15 of 19 · Specialized

Governmental accounting and GASB

State and local government accounting under GASB standards: the reporting model, fund types and measurement focus, reconciliations to government-wide statements, fund balance, nonexchange revenue, capital assets, pensions, OPEB, leases and SBITAs, compensated absences, fiduciary activities, the ACFR, and audits under Government Auditing Standards.

14 lessonsAbout 68 minGASB 34 · GASB 54 · GASB 68 · GASB 75 · GASB 87 · GASB 96 · Government Auditing Standards
0 of 14 complete
Syllabus

For: Auditors of cities, counties, school districts and special districts, and government finance staff.

  1. 01Governmental accounting and the GASB reporting model: Statement 34 and Statement 103Who sets GAAP for governments, the Statement 34 reporting model, and what GASB 103 changes for fiscal years beginning after June 15, 2025.5 min · worked example · 4 self-check questions
  2. 02Fund types: governmental, proprietary and fiduciary funds and the major fund testThe eleven fund types in three categories, when an activity must be an enterprise fund, and how to run the 10 percent and 5 percent major fund test.5 min · worked example · 4 self-check questions
  3. 03Measurement focus and basis of accounting: modified accrual and the availability criterionHow governmental funds recognize revenues when measurable and available, when expenditures are recorded, and why unavailable revenue becomes a deferred inflow.5 min · worked example · 4 self-check questions
  4. 04Reconciling governmental fund statements to the government-wide statementsBuild the Statement 34 reconciliation from fund balance to net position and from net change in fund balances to change in net position, and test each line.5 min · worked example · 4 self-check questions
  5. 05Fund balance classifications under GASB 54Nonspendable, restricted, committed, assigned and unassigned fund balance, stabilization arrangements, spending order policies and how to test each class.4 min · worked example · 4 self-check questions
  6. 06Nonexchange revenue under GASB 33: derived tax, imposed, government-mandated and voluntaryThe four Statement 33 classes of nonexchange transactions, when each is recognized, how eligibility requirements work and how availability affects funds.5 min · worked example · 4 self-check questions
  7. 07Capital assets and infrastructure: depreciation and the modified approachHow governments report capital assets and infrastructure, the Statement 34 conditions for the modified approach, and what happens when condition falls short.5 min · worked example · 4 self-check questions
  8. 08Pensions under GASB 68: net pension liability, deferrals and employer typesHow a government employer measures the net pension liability, builds pension expense and deferrals, and reports pensions in funds, notes and RSI under GASB 68.5 min · worked example · 4 self-check questions
  9. 09Other postemployment benefits under GASB 75How employers measure retiree health and other OPEB liabilities, including plans with no qualifying trust, the alternative method and implicit subsidies.4 min · worked example · 4 self-check questions
  10. 10Leases under GASB 87 and subscription IT arrangements under GASB 96The single GASB lease model for lessees and lessors, short-term exceptions, and how SBITAs follow it with three stages for implementation costs.5 min · worked example · 4 self-check questions
  11. 11Compensated absences under GASB 101The GASB 101 recognition test for unused leave, leave that waits until it starts or is used, pay-rate measurement, salary-related payments and disclosures.5 min · worked example · 4 self-check questions
  12. 12Fiduciary activities under GASB 84: trust and custodial fundsHow a government decides whether an activity is fiduciary, the four fiduciary fund types, when custodial liabilities arise and the three-month exception.5 min · worked example · 4 self-check questions
  13. 13The ACFR, MD&A and required supplementary informationWhat sits in each section of an annual comprehensive financial report, what counts as RSI, and which auditor responsibility applies to each piece.5 min · worked example · 4 self-check questions
  14. 14Auditing a government: opinion units, the Yellow Book and the link to Single AuditHow opinion units set materiality, what GAGAS adds to a financial audit under the 2024 Yellow Book, and when a government audit becomes a Single Audit.5 min · worked example · 5 self-check questions
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