GASB’s Invitation to Comment – Major Changes Proposed to Governmental Funds
In December 2016, the GASB approved the issuance of an Invitation to Comment on the Financial Reporting Model Improvements—Governmental Funds. The ITC includes three proposed approaches to the recognition of elements of financial statements and presentation for governmental fund financial statements. This course will provide an overview of each of the approaches and well as a discussion of some of the pros and cons of each approach. We will then offer an opportunity for attendees to share their perspectives with Cherry Bekaertat the end of the webinar as part of our due process document.
Participants will be able to:
- Describe the three approaches proposed in the Invitation to Comment
- Analyze the pros and cons of each approach
- Melisa Galasso, CPA | Senior Manager, Audit Professional Practices | Cherry Bekaert LLP
A Certified Public Accountant with nearly 15 years of experience, Melisa is an Audit Professional Practices Senior Manager at Cherry Bekaert. In this role, she assists with technical issues and quality control of the Firm’s assurance services practice. She monitors regulatory bodies including the Financial Accounting Standards Board (FASB), Government Accounting Standards Board (GASB) and American Institute of Certified Public Accountants (AICPA) for changes in auditing and accounting guidance and assists the Firm in implementing the updated guidance.
- Rob Churchman, CPA | Partner | Cherry Bekaert LLP
With more than 23 years of experience serving public sector federal, state and local governments and not-for-profits, Rob is an Audit Partner in the Richmond office of Cherry Bekaert. He serves as the Firm’s Audit Leader in Virginia for the Government Services Group. Prior to joining Cherry Bekaert, Rob was the Public Sector Partner in Virginia for a Big Four accounting firm managing multi-faceted, multi-component engagements for high profile public sector clients throughout the Commonwealth of Virginia and the District of Columbia. Rob was also a key member of the firm’s national public sector and quality control infrastructure systems, participating in key audit methodology, client service product development and quality review teams. Throughout his career, Rob has served various public sector organizations as a teacher and subject matter expert, while also serving as a member of several related teams, such as the Commonwealth of Virginia’s Auditor of Public Accounts’ GASB #34 and #45 task forces, the VSCPA government issues task force and the GFOA Certificate for Excellence in Financial Reporting program.
- Scott Anderson, CPA | Director | Cherry Bekaert LLP
A Director with the Firm’s Assurance practice, Scott advises clients in all phases of financial reporting. He oversees engagement planning, performance of audit tests and report writing. Clients have sought Scott’s knowledge in documenting, evaluating and identifying areas of improvement in internal controls and processes, as well as with assistance in the writing of financial statements. Serving the Firm’s clients for over 11 years, Scott primarily provides audit services in the not-for-profit and government industries. He has extensive experience with Uniform Grant Guidance and he has also been an internal and external training instructor for over six years.
Prerequisites | None
Advanced Preparation | None
Hours of CPE | 1 Hour*
Delivery Method | Group Internet
Program Level | Basic
CPE Category | Accounting (Government)
*Cherry Bekaert 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.learningmarket.org
Cherry Bekaert Continuing Professional Education: Statement of Administrative Policies
Complaint Resolution Policy
Cherry Bekaert will make every effort to provide the best training courses possible. In the event participants are not completely satisfied with the training course and wish to file a complaint, please contact Karen McManus at firstname.lastname@example.org or 804.673.5748 within 10 business days of the event. Information about the course such as date, location, instructor and nature of complaint must be provided. Complaints may also be made in writing to Cherry Bekaert LLP, 200 South 10th Street, Suite 900, Richmond, VA 23219, ATTN: Karen McManus
Record Retention Policy
Cherry Bekaert will retain all Continuing Professional Education (CPE) documents for five years from training course date. These records will include:
- Course outline
- Course content and handouts
- Sign in sheets
- Dates and locations of training courses
- Instructor credentials
- Course evaluations
- CPE certificates stating amount of recommended CPE credit
Refund and Cancellation Policy
Cherry Bekaert reserves the right to cancel or reschedule any training courses up to 10 business days prior to the date of the event. Full refunds will be provided to registered course participants if the course is canceled or if participants are unable to attend the rescheduled event.
Participants who must cancel their course registration 10 or more business days in advance of the event must contact Karen McManus to receive a full refund of all fees paid. Participants who must cancel their registration within 10 business days of the event, will not receive a refund.