Reinforce your understanding of key terms and concepts related to GASB Statement 65, its main changes, and the rationale behind its introduction.
While many government entities and public institutions have successfully adapted to the changes brought about by GASB Statement 65, some still find it challenging to assess new items to determine if they fall within its scope. Implemented over a decade ago, GASB Statement 65 reclassified certain items that were previously reported as assets and liabilities, significantly impacting financial reporting. This presentation serves as a refresher course, designed to reinforce attendees’ understanding of key terms and concepts related to GASB Statement 65, its main changes, and the rationale behind its introduction. The live webinar will also focus on the practical implications of GASB Statement 65, particularly in assessing whether new items are within its scope. This workshop is crucial for those responsible for financial reporting in government entities and public institutions, ensuring they are well-equipped to accurately apply GASB Statement 65 to their financial reporting.
Learning Objectives
- You will be able to define the key terms and concepts related to GASB Statement 65, including items previously reported as assets and liabilities.
- You will be able to describe the main changes brought about by GASB Statement 65 and its impact on financial reporting for government entities.
- You will be able to discuss the practical implications of GASB Statement 65, including its effects on financial statements.
- You will be able to explain the rationale behind the introduction of GASB Statement 65 and its role in improving the clarity and consistency of financial reporting that is important for entities to consider in the present.
Agenda
Speakers
Matthew A. Geerdes, CPA,
Crowe LLP- Senior Manager in Crowe LLP’s Public Sector Consulting Group in Oak Brook, Illinois
- Over 23 years of experience in public accounting providing auditing, consulting and accounting advisory services to governmental and not-for profit organizations, including municipalities, community colleges, school districts, special districts, state agencies and state universities as well as educational foundations across the country
- Has been the manager on financial audit engagements that have followed Government Auditing Standards and the Uniform Guidance
- Experience with Annual Comprehensive Financial Report (ACFR) and Schedule of Expenditures of Federal Awards (SEFA) preparation
- Conducts educational presentations to internal groups at Crowe and various professional entities regarding accounting standards updates, auditing standards updates, and the Uniform Guidance
- Active member of the American Institute of Certified Public Accountants, Illinois CPA Society, and Illinois Association of School Business Officials; currently serves as chair of the Government Report Review Committee of the Illinois CPA Society, and is a member of both the Accounting and Financial Reporting Professional Development Committee of the Illinois Association of School Business Officials and the Special Review Committee of the Government Finance Officers Association of the United States and Canada
- M.B.A. degree and B.A. degree, Lewis University
Who Should Attend
This live webinar is designed for accountants, CPAs, CFOs, controllers, finance managers and directors, city managers, county and municipal officials, administrators, and executive directors.
