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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 California Special District'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.
In addition, study the new GASB pension standards in an exercise using actuarial accounting valuation and the resulting note disclosures.
This course will adjourn at 4 p.m.
An understanding of governmental accounting and financial reporting.
CPAs responsible for financial reporting and auditing that serve government entities, including cities, counties, school districts and special districts. Government officials responsible for preparing financial statements.
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.