- Documenting Board Approval for Payroll Contracts
- Travel Reimbursements – Tips for Uncommon Scenarios
- Why Segregation of Duties Matters in an IT Environment
- Don’t Hold Your Breath: Why Water and Wastewater Rates in Arizona Aren’t Falling Anytime Soon
- Do Your Due Diligence!
- What Happens When Cash Isn’t Reconciled
- Adjacent Ways Projects: Capitalize or Expense?
- Excel Made Easy – VLOOKUP and XLOOKUP
- Physical Inventory Considerations
- I Submitted a December Budget Revision, Now What?
Tag Archives: GASB
Preparing for GASB 101: Key Steps for a Smooth Transition
So, by now you’ve all heard time and time again about the changes imminently hitting your compensated leave calculations, and what likely will change: estimating leave used versus paid out versus lost, what types of leave are significant, etc, as … read more
Posted in Articles
Tagged accounting, audit, Cameron Kolb, Cami Kolb, compensated abenses, financial statements, GASB, GASB 101, government, Heinfeld Meech, HeinfeldMeech, school district
Comments Off on Preparing for GASB 101: Key Steps for a Smooth Transition
Understanding GASB Statement No. 102: A New Standard for Government Risk Disclosures
When most people think about government finances, they picture massive budgets, taxpayer funding, and line-item spending on everything from roads to education. But behind the scenes, there’s another critical piece of the puzzle: risk. That’s where GASB Statement No. 102: … read more
Posted in Articles
Tagged Arizona, Cristina Oropeza, financial statements, GASB, GASB 102, risk disclosure, school district
Comments Off on Understanding GASB Statement No. 102: A New Standard for Government Risk Disclosures
GASB Statement No. 100 – Part II
In the previous article here, we discussed an overview of GASB Statement No. 100. However, in this article, we will focus on the logistics of a change within the financial reporting entity caused by a change in major funds, and … read more
Posted in Articles
Tagged accounting, Christopher Heinfeld, financial statements, GASB, government, major funds, school district
Comments Off on GASB Statement No. 100 – Part II
GASB 103: Turning Numbers into Digestible Narrative in Your MD&A
Given my chosen career, I read a lot of financial statements, and I can tell you firsthand that some are more interesting than others. While the statements alone can paint a picture, it is the story that accompanies the statements … read more
Posted in Articles
Tagged ACFR, Arizona, audit report, financial statements, GASB, government, Jennifer Shields, MD&A, public entities, school district
Comments Off on GASB 103: Turning Numbers into Digestible Narrative in Your MD&A
Understanding the Latest GASB Audit Updates: What You Need to Know About Statement 101
Why the Change? The goal of GASB 101 is to standardize and clarify the accounting treatment of compensated absences, ensuring consistent recognition of leave-related liabilities across governmental entities. These changes are meant to enhance transparency and comparability in financial reporting. … read more
Posted in Articles
Tagged accounting, Brittney Williams, compensated absences, employee leave, financial statements, GASB, GASB 101, government
Comments Off on Understanding the Latest GASB Audit Updates: What You Need to Know About Statement 101
Why Audits Are Important
Oh no, did the IRS or a governing body send you a letter saying you need an audit and now you don’t know what to do? An audit is stereotypically required because an entity did something wrong and the IRS … read more
Posted in Articles
Tagged ADE, Arizona, audit, Bryan Ruprecht, compliance, financial statement, GASB, goverment, school district
Comments Off on Why Audits Are Important
GASB Statement No. 100 – Part I
The GASB statements hit the century mark with the issuance of GASB Statement No. 100, Accounting Changes and Error Corrections. The statement amended GASB Statement No. 62 and is effective for fiscal years beginning after June 15, 2023, and all … read more
Posted in Articles
Tagged accounting, auditing, Christopher Heinfeld, financial statements, GASB, government, school districts
Comments Off on GASB Statement No. 100 – Part I