GASB: Accounting and Financial Reporting for Certain Grants and Other Financial Assistance

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GASB: Accounting and Financial Reporting for Certain Grants and Other Financial Assistance

Reviewed

February, 2024

Michel Morley

Learning Objectives

To discuss the latest information regarding accounting and financial reporting for certain grants and other financial assistance.
To review the overall guidance on accounting and financial reporting for certain grants and other financial assistance.
To know how to apply presentation rules and exceptions.
To review the recognition, measurement, and presentation constraints.
To look at disclosure and presentation requirements.
To write the appropriate Notes.
To know the unique disclosure and presentation requirements of accounting and financial reporting for certain grants and other financial assistance.
To discuss required note disclosures.

Course Description

This webinar describes the standards of the Governmental Accounting Standards Board (GASB) for Accounting and Financial Reporting for Certain Grants and Other Financial Assistance.

This standard for Accounting and Financial Reporting for Certain Grants and Other Financial Assistance establishes accounting and financial reporting standards for pass-through grants, food stamps, and on-behalf payments for fringe benefits and salaries. Pass-through grants are those grants that are received by a recipient government to transfer to or spend on behalf of a secondary recipient.

This CPE Accounting (Govt.) webinar is a resource that will help accounting professionals responsible for accounting and financial reporting for certain grants and other financial assistance.

Key topics covered in this course:

Basic concepts, scope, and applicability of accounting and financial reporting for certain grants and other financial assistance.
Planning the approach: accounting and financial reporting for certain grants and other financial assistance.
Sizing up the impacts of accounting and financial reporting for certain grants and other financial assistance: questions you need to ask.
Specific rules and unique provisions for accounting and financial reporting for certain grants and other financial assistance.
Disclosure and presentation requirements.
Notes to financial statements.

In this CPE webinar, speaker Mike Morley outlines an easy-to-understand step-by-step procedure for accounting for certain grants and other financial assistance.

Overview

Food stamp program

6 mins
On-behalf payments for fringe benefits and salaries

17 mins
Employer government reporting - Recognition and measurement

34 mins
Agency relationships

48 mins
Voucher programs

61 mins
Food stamp revenue and expenditures

75 mins

Webinar Qualifies For

2 CPE Credit of Accounting (Govt.) for Certified Public Accountants (CPA-US)
2 General Credit of Accounting (Govt.) for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Accounting & Auditing (Govt.) for Certified Internal Auditors (CIA)
2 CPE Credit of Accounting & Auditing (Govt.) for Certification in Risk Management Assurance (CRMA)
2 CPE Credit of Accounting & Auditing (Govt.) for Certified Government Financial Manager (CGFM)
2 CPE Credit of Accounting & Auditing (Govt.) for Certified Government Auditing Professional (CGAP)
2 CPE Credit of Accounting & Auditing (Govt.) for Internal Audit Practitioner (IAP)
2 CPE Credit of Accounting & Auditing (Govt.) for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit of Accounting (Govt.) for Iowa Licensed Public Accountant (IA-LPA)
2 CPE Credit of Accounting (Govt.) for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Accounting (Govt.) for Delaware Licensed Public Accountant (DE-LPA)

About Instructor

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

QAS Self Study

Pre-requisites

None

Advance Preparation

None

FAQ’s

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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 through its website: www.NASBARegistry.org.