GASB Reporting Entity Standards: Component Units and Fiduciary Activities

GASB’s standards for the financial reporting entity are among the most complex areas in governmental accounting, and even experienced accountants and auditors can find themselves second-guessing the right approach. Which legally separate organizations belong in your government’s financial statements? How should they be incorporated? And what exactly qualifies as a fiduciary activity?

Join CRI’s government and public sector accounting team for this webinar that aims to simplify the complexity by explaining the fundamentals of GASB’s reporting entity standards, providing you with a practical framework for identifying component units and fiduciary activities with more confidence. During the live session, they’ll also share real-life examples of how governments have managed both common and unusual situations under these rules.

Who Should Attend

This session is designed for governmental accountants, auditors, and finance professionals who prepare or review government financial statements and want a stronger command of GASB’s reporting entity requirements.

Learning Objectives

After completing this webinar, participants will be able to:

1. Identify the relevant provisions of the GASB standards for the financial reporting entity
2. Apply the standards to identify a government’s component units
3. Incorporate component units into a government’s financial statements
4. Classify trustee and custodial activities that should be reported as fiduciary activities

CPE Information

• Participants will earn 2.0 CPE credits.
• Field of Study: Accounting – (Governmental)
• Prerequisites: None
• Advanced Preparation: None
• Program Level: Basic
• Delivery Method: Group Internet Based