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Tag Archives: GASB
GASB 42 Revisited
As accountants, auditors and consultants, we find ourselves living in a world that seems to change faster than we might be comfortable with. Normally, we focus on the changes that are on the horizon so that we may educate ourselves … read more
Posted in Articles
Tagged Arizona, asset impairment, capital assets, CPA firm, financial statement, GASB, government, Jennifer Shields, school district
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GASB Standards Update
The Governmental Accounting Standards Board (GASB) has been, seemingly, busier in recent years researching, deliberating, and issuing a number of standards that will take effect in coming years. While some relief was provided with the passage of GASB Statement No. … read more
Posted in Articles
Tagged accounting, Arizona, fiduciary activities, financial statements, GASB, government, leases, Mike Hoerig, pronouncements, Texas
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New Independent Auditor’s Report on the Way!!!
The hundreds, and in some cases thousands, of staff hours dedicated to an audit results in a single deliverable of captioned paragraphs, technical auditing phrases, and the all-important signature on firm letterhead. Of course I am referencing the independent auditor’s … read more
Posted in Articles
Tagged audit report, auditors report, Corey Arvizu, FASB, financial audit, GASB
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Understanding the New Independence Rules Related to Financial Statement Preparation
(originally published on April 15, 2020) Have you heard of the new Yellow Book or Government Auditing Standards issued by the Governmental Accountability Office? If not, that’s OK – this article aims to provide you with some critical information to … read more
Posted in Articles
Tagged accounting, audit, audit report, auditor, Brittney Williams, CAFR, financial statement, GASB, government, independence, school district
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What to Know About the Change in the Classification of Agency Funds (Student Activities Funds)
A few years ago, the Governmental Accounting Standards Board (GASB) issued Statement No. 84, Fiduciary Activities. The statement established criteria for identifying fiduciary activities, with a focus on control of the assets and beneficiaries of the activities; additionally, the statement … read more
Posted in Articles
Tagged agency funds, Arizona, Chris Heinfeld, Christopher Heinfeld, financial reporting, GASB, government, school district, special revenue funds, student activities, USFR
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Governmental Financial Reporting and COVID-19
There are a multitude of ways that a global pandemic can affect financial reporting, and the unique nature of governmental organizations (which are intertwined with most facets of our local and regional communities) can further compound and complicate the impacts. … read more
Posted in Articles
Tagged 2020, AFR, CAFR, changes, COVID-19, financial statement, GASB, government, impact
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The Do’s and Don’ts of Reviewing School District Financial Statements
by Sara Kirk, CPA, CFE, Consulting Manager
Posted in Videos
Tagged accounting, annual report, Arizona, CAFR, financial statement, GASB, presentation, Sara Kirk, school district, video
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