12Track C

GASB and Standards Updates

• 09/11/2025
• 08:00 a.m. - 05:00 p.m.
• 8 hours

Course Description

The GASB Standards Update will provide participants with a working knowledge of recently release standards of the Governmental Accounting Standards Board (GASB).  Standards that will be addressed are compensated absences, including an in-depth look at how the liability is determined; certain risk disclosures, including what events could trigger the disclosure requirements; the recently introduced financial reporting model improvements, including a detailed look at what makes a great management’s discussion and analysis (MD&A) letter; and new capital asset disclosure requirements.

In addition, this session will bring participants up-to-speed on projects that currently are being deliberated by the Board or are being researched by the GASB staff.  Those projects include subsequent events, going concern uncertainties and severe financial stress, infrastructure assets, revenue and expense recognition, and voluntary digital financial reporting.

What You Will Learn

• How to determine and report vacation and sick leave liabilities
• What triggers disclosures associated with certain concentrations and constraints
• Information needed to prepare a great MD&A
• Other important changes made to the financial reporting model, including budgetary comparisons, proprietary fund and business-type activities reporting, and major component unit presentations
• Disclosure requirements for capital assets held for sale
• Where the GASB will most likely be going next

Who Should Attend?

APIPA conference sessions are intended for island government accountability professionals.  Audit, budget, finance, accounting, and related management and staff members will find interest and value in this presentation.

This session is intended for anyone that has an interest in learning more about recently issued GASB standards and the future of governmental accounting.

Instructors