- 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
GASB 101 – Compensated Absences
I’m sure if you have been to one of HeinfeldMeech’s recent trainings you may have heard that the Governmental Accounting Standards Board (GASB) just crossed 100 issued Statements. While GASB Statement 101 won’t have quite the same financial impact that … read more
Posted in Articles
Tagged compensated absences, employee leave, financial statements, GASB, government, Michael Lauzon, school district, unvested leave, vested leave
Comments Off on GASB 101 – Compensated Absences
Capital Assets Under the Capitalization Threshold – Part II
With the beginning of a new fiscal year, it is always a great time to note what new financial reporting requirements will be effective for the year to proactively plan for any significant changes rather than retroactively attempting to implement … read more
Posted in Articles
Tagged capital assets, capitalization, Christopher Heinfeld, financial statements, GASB, threshold
Comments Off on Capital Assets Under the Capitalization Threshold – Part II
GASB 94: P3s and APAs is Effective – Don’t Miss It!
GASB Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements may have not been on your radar, but this standard is effective for the fiscal year ending June 30, 2023, and all reporting periods thereafter. The standard is … read more
Posted in Articles
Tagged accounting, APA, Corey Arvizu, financial statements, GASB, goverment, P3
Comments Off on GASB 94: P3s and APAs is Effective – Don’t Miss It!
GASB 87 Leases – Year 2 Trials and Tribulations
Let’s be honest – implementing GASB 87 for leases was no easy task! From reviewing your organization’s agreements, determining incremental borrowing rates, ensuring amortization schedules were accurate for the financial statements and whole host of other things, the process was … read more
Posted in Articles
Tagged accounting, Arizona, capital asset, financial report, GASB, government, Joshua Jumper, leases, school district
Comments Off on GASB 87 Leases – Year 2 Trials and Tribulations
Deja Vu! – GASB 96
Many are currently working through the implementation of GASB 87, the new lease standard required to be implemented in fiscal year 2022. The net result of the standard is more lease agreements carried on the balance sheet, additional disclosures, and … read more
Posted in Articles
Tagged Arizona, audit, Chris Goeman, Christopher Goeman, GASB, government, IT, San Antonio, SBITA, school district, subscription, technology, Texas
Comments Off on Deja Vu! – GASB 96
GASB Statement 87, Leases: Common Implementation Questions
There is no time left to procrastinate on preparing to implement GASB Statement 87. If this is your first introduction to the new lease standard, please refer to Christopher Heinfeld’s 2021 article for a basic introduction to the GASB pronouncement. … read more
Posted in Articles
Tagged accounting, audit, financial statements, GASB, government, Joshua Jumper, leases, municipality, school district
Comments Off on GASB Statement 87, Leases: Common Implementation Questions
Capital Assets under the Capitalization Threshold
The common understanding under Government Accounting Standards Board (GASB) Statement 34 was that capital items under the capitalization threshold, typically $5,000, were not capitalized and that like items (laptops, furniture) would not be added together to create one asset. However, … read more
Posted in Articles
Tagged Arizona, capital assets, capitalization, financial report, GASB, government, inventory, Michael Lauzon, school district, value
Comments Off on Capital Assets under the Capitalization Threshold