GASB Hot Topics and Accounting Standards Update

Cherry Bekaert: Government & Public Sector

Sep 9 2022 • 16 mins

The Governmental Accounting Standards Board (GASB) develops and issues accounting standards for state and local governments. Scott Anderson, a Director on Cherry Bekaert’s Government & Public Sector team who has recently returned from his fellowship with GASB, sat down with Danny Martinez, Cherry Bekaert’s Government & Public Sector Accounting Advisory Lead to discuss GASB hot topics, insights, and key takeaways.

This podcast discusses:

  • Relationships, similarities, and differences between GASB Statements 87, 94, and 96
  • Importance of constituent feedback during GASB’s standard setting process
  • Takeaways from being the Zone 3 (GASB) Chair on the AICPA Technical Issues Committee and a GASB Practice Fellow
  • Impact of GASB 100, Accounting Changes and Error Corrections to improve consistency
  • Impact of GASB 101, Compensated Absences, adapting to new types of government leave
  • Call to action for user feedback on proposed statement, Certain Risk Disclosures

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

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