GASB 65 - Items Previously Reported As Assets And Liabilities

Webinar: ID# 1014340
Recorded CD
About This Course:
First year accounting students are taught that assets equal liabilities plus equity. GASB 65 and its related pronouncements make this equation obsolete for state and local government financial statements.

This live webinar will help you understand these new classifications of items that were previously reported as assets and liabilities. This webinar will also help you to conceptually understand deferred outflows and inflows of resources and help you to better understand their impact on governmental financial statements.


Understanding Deferred Outflows and Inflows of Resources
Display of Deferred Outflows and Inflows of Resources on the Statement of Net Position
Changes to Accounting for Assets and Liabilities Under GASB 65
  • Refundings of Debt
  • Debt Issuance Costs
  • Leases
  • Sales of Future Revenues
  • Nonexchange Transactions
  • Insurance Activities – Acquisition Costs
  • Lending Activities
  • Mortgage Banking Activities
  • Regulated Operations
  • Revenue Recognition in Governmental Funds
  • Use of Term Deferred
  • Major Fund Criteria
  • Other Items That May Give Rise to Deferred Inflows and Outflows of Resources

Warren Ruppel CPA
  • Partner in the nonprofit and government services group at Marks Paneth LLP, a mid-sized accounting firm based in New York, with responsibility for its government auditing practice
  • Formerly the assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting, including its implementation of GASB 34
  • Earlier in career with KPMG and Deloitte & Touche, serving numerous government audit clients
  • Writer of several books, including Wiley’s GAAP for Governments and Government Accounting Made Easy
  • Member of the Accounting and Auditing Committee of the New York State Government Finance Officers Association
  • Member of the Special Review Committee of the national Government Finance Officers Association
  • Appears quarterly as the government specialist on the CPA Report distributed by SmartPros
GASB 65 - Items Previously Reported As Assets And Liabilities
Available on CD format
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