GASB Review 2021

Date: July 14, 2021
Time: 11 a.m. - 1 p.m.
CPE: 2 credits

Learning Objectives

At the end of this webinar, attendees should be able to:

• Identify the major revisions of recently issued GASB pronouncements, including those that are effective for FY 2021 and FY 2022.
• Know how the new requirements differ from the previous standards.
• Apply the new principles in preparation and audits of FY 2021 financial statements.
• Understand the key elements of major projects on GASB’s technical agenda.

Field of Study

Accounting

Overview

NASACT is pleased to announce the latest in its series of training events addressing timely issues in government accounting, auditing and financial management.

As fiscal year-end for most state governments quickly approaches and a new year begins, it is an opportune time for financial statement preparers and auditors to get a refresher on standards that will be effective for June 30, 2021, financial statements, as well as recently released GASB statements that will require attention in fiscal year 2022. This webinar will provide must-know guidance on these standards as well as the standards that were recently delayed by Statement No. 95 due to the COVID-19 health emergency.

For fiscal year June 30, 2021, these include:

• Statement 84 – Fiduciary Activities
• Statement 90 – Majority Equity Interests
• Statement 93 – Interbank Offered Rates (except LIBOR removal and lease modifications)
• IG 2019-1 – Update
• IG 2019-2 – Fiduciary Activities

For fiscal year June 30, 2022, these include:

• Statement 87 – Leases
• Statement 89 – Construction-Period Interest
• Statement 92 – Omnibus (multiple effective dates)
• Statement 93 – LIBOR Removal and Lease Modifications
• Statement 97 – Certain Component Unit Criteria and Section 457 Plans
• IG 2019-3 – Leases
• IG 2020-1 – Update (except 4.6–4.17 and 4.19–4.21)

The webinar will also cover key projects on GASB’s technical agenda including the financial model re-examination and revenue and expense recognition.

Registration Information

Space is limited, so reserve your place by July 7, 2021

To Register

• Visit the Yes webpage
• Click Login under the “Online Learning Portal”
• This will launch the TraCorp Learning Platform
  • If you have not logged in to the new Learning Management Site before, you will need to use your EIN and initial password of “NewUser1” on the first login.  Once in, you must change your password before proceeding.
• Once logged into TraCorp, Click "Assigned Content" 
  • For those who have a Full Access or Limited Access (FA or LA) TraCorp account, Click on My Student before launching content. 
• In the search field to the left, enter “GAO Hosted Webinar” 
• Under the Upcoming Session, click "Register" for the July 14, 2021 session
• You will receive a confirmation email