myCPE
myCPE

GASB Updates: 2024 1 Credit

Oct 28, 2024, 09:30 AM ET

GASB Updates: 2024 1 Credit

  • Rating

    4.4
  • Published on

    December, 1969
  • Subject Area

    Accounting (Govt.)

Learning mode

Live Webinar
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  • Answer the polling questions
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Oct 28, 2024, 09:30 AM ET

Learning Objective

  • Be able to identify which recent GASB pronouncements are now in effect.
  • Discuss the basics of the length of the term with GASB 96.
  • Identify GASB projects that may have an effect on your organization.
  • Recall the major components of leave in GASB 101.
  • Review what GASB is working on so you can prepare now.

Course Overview

Are you involved in government accounting or audit? Are you grappling with the latest Governmental Accounting Standards Board (GASB) updates and their implications? This online CPE Course is tailored for you!

In this CPE course we will delve into recent GASB pronouncements such as GASB 94 and GASB 96, which address public-private partnerships and subscription-based information technology arrangements (SBITAs), respectively. These updates require governments to recognize liabilities and assets associated with these arrangements, impacting financial disclosures and necessitating collaboration with procurement and IT departments. 

This CPE webinar will highlight GASB projects, including GASB 101 on compensated absences and GASB 102 on certain risk disclosures. These new standards will introduce significant changes in how governments account for leave liabilities and disclose risks related to concentrations and constraints. By understanding and preparing for these changes, financial professionals can ensure their organizations remain compliant and well-positioned to handle the complexities of public sector financial reporting.

Key topics discussed:

  • GASB themes
  • Recent GASB pronouncements
  • Recent GASB pronouncements that are in effect in future years
  • Deep dive into GASB 101---Compensated Absences
  • GASB 102 Certain Risk Disclosures
  • GASB projects on the horizon

Join us to stay ahead in understanding the evolving GASB landscape and ensure you're well-prepared to handle the accounting modifications associated with adopting these new standards.

For more Accounting & Auditing Govt. Courses, Click here.

Podcast Credits

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On Demand Credits

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Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

About Instructor

Shea Boothe
Shea Boothe

CFO/Controller, Concord University

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Shea Boothe holds a CPA license in the State of West Virginia.  He also holds a Professional in Human Resources (PHR) certification.  He holds a Master of Professional Accountancy from West Virginia University and an Executive Certificate in Business Administration from Liberty University.  His undergraduate degree is in Business Administration from Concord University.  

Shea currently is the Controller of a public 4-year university, where he prepares the financial statements and manages budgetary control.  Previously roles include Budget Director, Assistant Controller, and Payroll Manager.  He has also taught courses at the collegiate level.  

He is an active member of the West Virginia Society of CPAs and the treasurer of the Concord University Alumni Association.  Shea is also 10-year volunteer of the IRS’s Volunteer Income Tax Assistance (VITA) program, helping prepare tax returns for underprivileged individuals.  

Shea’s professional interests and expertise include GASB accounting and the intersection of technology and accounting.  He is passionate about sharing knowledge with others and developing efficient and effective processes.  

In his free time, Shea enjoys traveling to multiple beaches along the eastern seaboard.  He also enjoys spending time with his nephews and his pet cat.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

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