GASB Basic Financial Statements For State And Local Governments Webcast | 4191260E

Date :
March 25, 2020 8:30 AM - 4:00 PM
Location :
Facility :
Webcast Rebroadcast
Level of Difficulty :
Member Price :
Nonmember Price :
CPE Credits :
CPE 8.00
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The impact of GASB Statement No. 34, Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments continues to reverberate in California. Build an understanding of GASB 34 and receive an update of GASB-related pronouncements, exposure drafts, and future agenda items. Review concepts from a City's Comprehensive Annual Financial Report, such as basic financial statement formats, reconciliation of government-wide financial statements to the fund's financial statements and note disclosures and infrastructure capital assets. Also, review GASB's Preliminary Views on Financial Reporting Model Improvements (September 2018) and my written response.

In addition, study the new GASB Pension and OPEB  Standards in an exercise using actuarial accounting valuations and the resulting note disclosures.

Materials are provided as an ebook for this course.


  • Identify basic GASB; financial statements.
  • Determine key technical elements, as well as analytical and statistical metrics.
  • Recognize accounting, financial reporting and disclosure issues.
  • Identify GASB pronouncements, exposure drafts and future agenda items.
  • Determine internal controls for government and audit risk assessments using a risk-based audit approach with the COSO framework.
  • Identify and review the Pension and OPEB  Standards including GASB Statements Nos. 67, 68, 71, 73, 74, 75, and 85.
  • Identify component units by reviewing "The Financial Reporting Entity" including GASB Statements Nos. 14, 34, 39, 61, 80, and 90.

Major Subjects:

  • GASB 63 and 65, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position and Items Previously Reported as Assets and Liabilities
  • COSO for Smaller Entities and Governments
  • GASB 34
  • Survey of California Cities and Counties
  • GASB Pension and OPEB Standards including the "Implicit Rate Subsidy"
  • Review GASB Statement No. 87, Leases, including implementation guidance

Advanced Prep:


Misc. Information:

This course will adjourn at 4 p.m.

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Level of Difficulty:
Field of Interest:
Accounting (Governmental)

An understanding of governmental accounting and financial reporting.

Designed For:

CPAs responsible for financial reporting and auditing that serve government entities, including cities, counties, school districts and special districts. Government officials responsible for the financial statements.


Gary M Caporicci, CFF, CGFM, CGMA

Gary M. Caporicci is a partner at The Pun Group, LLP. He has more than 40 years of diversified business experience, including a specialization in audit and management consulting for government organizations. His clients include public and private universities and colleges, city and county governments, state agencies, joint power authorities, healthcare agencies, transportation agencies, and special districts. Known for his expertise in the areas of construction and government, Caporicci wrote the AICPA audit guides on these topics, and he has authored many audit and accounting courses for professional groups, as well as academic institutions. He frequently speaks and lectures at many professional organizations, governmental seminars and conferences held by industry associations, other accounting firms, and universities. In addition, he authors white papers for the California Committee on Municipal Accounting.

Prior to working with The Pun Group, Caporicci founded his own accounting practice. He also spent 11 years with a Big Eight professional services firm, where he was an audit manager and gained broad experience in a wide range of industries such as government, construction, manufacturing, mutual funds, and insurance. Prior to that, he held a consultant position with a Big Four practice and was vice president of a national insurance and financial services company. In 2015 Caporicci was appointed to the State Retirement Advisory Committee by the State Controller. Caporicci holds a bachelor’s degree in accounting and finance from Armstrong University, and is a CPA licensed by the State of California.

No Agenda or Materials posted.