Media Advisory 02/21/18
Registration Opens for March 14 GASB Webinar on Invitation to Comment on Revenue and Expense Recognition
Norwalk, CT, February 21, 2018—Registration is now open for an upcoming Governmental Accounting Standards Board (GASB) webinar on an Invitation to Comment (ITC) on the development of a comprehensive revenue and expense recognition model for state and local governments. The ITC is intended to obtain feedback from stakeholders on potential financial reporting alternatives at an early stage of the project. The purpose of this webinar is to inform stakeholders about the issues raised in the ITC.
IN FOCUS: GASB’s Invitation to Comment on Revenue and Expense Recognition webinar will take place on Wednesday, March 14, 2018, from 2:00 to 3:00 p.m. Eastern Daylight Time. The webinar will include the following:
- An overview of the Revenue and Expense Recognition project
- An in-depth review of the two models presented in the ITC: (a) the exchange/nonexchange model and (b) the performance obligation/no performance obligation model
- An audience question-and-answer session.
The webinar will feature Paulina Haro, GASB Supervising Project Manager, and Randy Finden, GASB Senior Project Manager. Dean Mead, GASB Senior Research Manager, will serve as moderator.
At the end of this program, participants will be able to broadly understand the two revenue and expense recognition models included in the ITC, including:
- Elements of a revenue and expense recognition model
- Differences and similarities of the models presented and current practice
- Potential challenges and benefits of the two models included in the ITC.
An archive of the webcast will be available on the GASB website after the live event. (CPE credit will not be available to those who view only the archived webcast.)
For more information about the project, visit www.gasb.org.
About the Governmental Accounting Standards Board
Established in 1984, the GASB is the independent, private-sector organization based in Norwalk, Connecticut, that establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP). These standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA). The GASB develops and issues accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to taxpayers, public officials, investors, and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the GASB. For more information, visit www.gasb.org.