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Welcome to the Year-End GAAP Reporting Workshop

Welcome to the Year-End GAAP Reporting Workshop. June 9, 2004. Technical Update. Presented by Mark Thomas Partner - KPMG LLP. GASB Statement No. 39. Determining Whether Certain Organizations Are Component Units, an Amendment of GASB Statement 14 Effective: Fiscal Year 2004

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Welcome to the Year-End GAAP Reporting Workshop

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  1. Welcome to the Year-End GAAP Reporting Workshop June 9, 2004

  2. Technical Update Presented by Mark Thomas Partner - KPMG LLP

  3. GASB Statement No. 39 Determining Whether Certain Organizations Are Component Units, an Amendment of GASB Statement 14 Effective: Fiscal Year 2004 • Statement of Cash Flows is not required • Elimination of Nonexchange Transactions

  4. GASB Statement No. 40 Deposit and Investment Risk Disclosures, an Amendment of GASB Statement 3 Effective: Fiscal Year 2005

  5. GASB Statement No. 42 Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries Effective: Fiscal Year 2006

  6. Annual Revenues > $100 million > $10 million and < $100 million < $10 million Effective date Fiscal Year 2007 Fiscal Year 2008 Fiscal Year 2009 GASB Statement No. 43 Financial Reporting for Postemployment Benefit Plans and Other Than Pension Plans

  7. GASB Statement No. 44 Economic Condition Reporting: The Statistical Section – an Amendment of NCGA Statement 1 Effective: Fiscal Year 2006

  8. Questions?

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