GASB 75 Training
Wednesday, May 10, 2017
Hayashi Wayland Salinas Office, 1188 Padre Drive, Ste. 101
Please RSVP to or (831) 759-6327

GASB 75 becomes effective for fiscal years beginning after June 15, 2017.  Those that have been through the GASB pension standard implementation know it is important to get a head start in understanding this standard and the impact it will have on your financial reporting.

Wrapping your arms around Other Postemployment Benefits – Using GASB 68 as our base, this session will provide an understanding of the new OPEB standards and how they will differ from the pension standards. The session will also provide:

  • An overview of the total OPEB liability, net OPEB liability and deferred outflows/inflows of resources related to OPEB and OPEB expense
  • Differences for recognition and measurement of OPEB if the plan is administered through a trust, and if it is not
  • Measurement considerations unique to OPEB, including implicit rate subsidy issues (age-adjusted premiums)
  • Different note disclosure and RSI for OPEB if the plan is administered through a trust, and if it is not

There has been a lot of discussion about revenue recognition in the private sector. GASB revenue recognition requirements, however, present their own set of challenges for auditors of state and local governmental entities.

Demystifying GASB Revenue Recognition – This session will provide a refresher on some of the key GASB requirements and related challenges. Attendees will learn how to:

  • Identify the basic revenue recognition requirements of GASB Statement No. 33
  • Recognize and apply GASB 33 criteria to transactions that present revenue recognition challenges
  • Address potential revenue recognition issues and the required documentation/audit evidence to support financial statement treatment


Accounting Standards Updates from the FASB
Wednesday, May 24, 2017
8:00AM- 1:00PM
Hayashi Wayland Salinas Office, 1188 Padre Drive, Ste. 101
Please RSVP to or (831) 759-6327

The Financial Accounting Standards Board (FASB) has recently issued Accounting Standards Updates (ASU) that impact nonprofits. This training covers those changes and gives you the tools necessary to implement the new standards when they become effective.

  • Revenue Recognition – Hear from the experts who are creating the guidance on how nonprofits should be implementing FASB’s revenue recognition pronouncement. This session will discuss:
    • Upcoming changes related to revenue recognition
    • Potential application considerations for nonprofits
    • Practical steps for implementing ASC 606
  • FASB Nonprofit Update – Attendees will learn:
    • The latest on GAAP, recent ASUs and FASB projects in process
    • Key provisions of the new leases standard
    • Implementation issues being addressed related to Topic 606 (Revenue Recognition) on government grants to nonprofits
    • Key provisions of the final ASU for Phase I of the Not-For-Profit Financial Statements (NFPFS) Project
    • Phase II of the NFPFS Project and other projects that are significant to nonprofits
  • Functional Expense Allocation: Am I Doing It Right? FASB has a new requirement for all nonprofits to present a statement of functional expenses, or equivalent. Get ready to review your expense allocations and for full disclosure. Attendees will learn:
    • A summary of the new disclosure requirement
    • What is required and allowable by GAAP for functional allocation of expenses
    • Comparing and contrasting GAAP expense allocations with indirect cost allocations for grants and contracts



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