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  • June 28
  • 1:00 - 2:00 pm EST

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GASB 65 - Items Previously Reported as Assets and Liabilities

June 28

Increase your knowledge base with lessons on GASB 65 new classification of items previously reported as assets and liabilities.

First year accounting students are taught that assets equal liabilities plus equity. GASB 65 and its related pronouncements make this equation obsolete for state and local government financial statements. Understand these new classifications of items that were previously reported as assets and liabilities. This topic will help you to conceptually understand deferred outflows and inflows of resources and help you to better understand their impact on governmental financial statements.

Learning Objectives

- You will be able to review mortgage banking activities.

- You will be able to discuss nonexchange transactions.

- You will be able to identify debt issuance costs.

- You will be able to explain deferred outflows and inflows of resources.

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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Understanding Deferred Outflows and Inflows of Resources
Display of Deferred Outflows and Inflows of Resources on the Statement of Net Position
Changes to Accounting for Assets and Liabilities Under GASB 65
  • Refundings of Debt
  • Debt Issuance Costs
  • Leases
  • Sales of Future Revenues
  • Nonexchange Transactions
  • Insurance Activities Acquisition Costs
  • Lending Activities
  • Mortgage Banking Activities
  • Regulated Operations
  • Revenue Recognition in Governmental Funds
  • Use of Term Deferred
  • Major Fund Criteria
  • Other Items That May Give Rise to Deferred Inflows and Outflows of Resources
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • CPE 1.2 including Accounting (governmental) 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting (governmental) for 1.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Accounting for 1.0 hour.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for accountants, CPAs, CFOs, controllers, finance managers and directors, city managers, county and municipal officials, administrators and executive directors.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Warren Ruppel, CPA

Warren Ruppel, CPA

Marks Paneth LLP

  • Partner in the nonprofit and government services group at Marks Paneth LLP, a mid-sized accounting firm based in New York, and practice leader for government services
  • Formerly the assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting, including its implementation of GASB 34
  • Earlier in his career with KPMG and Deloitte & Touche, served numerous government audit clients
  • Written several books, including Wiley’s GAAP for Governments and Government Accounting Made Easy
  • Member of the Accounting and Auditing Committee of the New York State Government Finance Officers Association
  • Member of the AICPA’s Technical Issues Committee’s subgroup for governmental accounting matters
  • Member of the Special Review Committee of the national Government Finance Officers Association
  • Appears quarterly as the government specialist on the CPA Report distributed by SmartPros
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Product ID: 404182
Published 2016, 2018
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