CPAR GOV - Accounting & Financial Reporting  |  Format: Flash

Debt Disclosures: Taking a New Approach

Course Overview
Under a new standard adopted by the Governmental Accounting Standards Board, state and local governments will be required to present direct borrowings and direct placements of debt separately in their financial statement note disclosures. According to Warren Ruppel, a partner in the firm of Marks Paneth LLP, the standard setter intends to create a stronger accounting framework in order to address a variety of transactions, including some for which there is currently no guidance.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • List the types of debt that must be disclosed under GASB Statement No. 88
  • Recognize the different types of implementation guides
  • Identify auditor responsibilities for municipal securities offerings
  • Recognize the differences between the non-exchange and exchange model

    Catalog Number: CPAR1343-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: CPAR Government/Not-For-Profit
    Advanced Preparation:
    Work experience in government accounting or auditing, or an introductory course in government auditing
    Course Level: Update
    Field of Study: Accounting - Governmental
    Content Partner: CPAR Government/Not-For-Profit
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Aug 29, 2018 / Oct 10, 2020