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2022 Governmental Conference

Description

Every year, there are new and emerging developments in the Governmental sector. This conference will give you clarity about what’s happening now and help you anticipate what’s next. Please scroll down for the full agenda and to register!

Are you interested in speaking at this conference? Please complete our speaker proposal form for consideration.

Learning Objectives

To update participants on current developments in the government sector.

Major Topics
  • GASB 87/96 calculations, budget implications and more!
  • Economic Update with Rich Wobbekind
  • Update on SB22-238
Provider
Colorado Society of CPAs
Course Level
Update
CPE Field of Study
TBD
Who Should Attend

Practitioners and governmental accountants wanting an overview of specialized subjects in the governmental arena.

Instructor(s)
Various
Prerequisites

None

Advanced Preparation

None

Location
COCPA
Event Information
When
Oct 27, 2022
8:30 am - 4:30 pm MDT
Location
COCPA
Total CPE Credits
8
Format
In-Person + Webcast Live

Agenda

Day 1

10/27/2022
8:30 am
Upcoming GASB Statements - Impact to Stakeholders
Janeen Hathcock

What are the upcoming GASB Statements and what impact will they have on preparers and auditors? Let’s get you ready!

  • Review the upcoming GASB Statements effective over the next few years
  • Considerations on the impact to your organization
  • Determine what you should start thinking about. Now!
9:20 am
The Mysteries Behind GASB (Virtual)
Dianne Ray

How standards are developed, why stakeholder input is important, and what is on the horizon for new standards

  • What goes on behind the scenes at GASB?
  • Does GASB read my comment letters?
  • What are the latest GASB projects?
10:10 am
Break
10:20 am
Government Accountability and Transparency
Sheila Weinberg and Christine Kuglin, JD, CPA, LLM, EA, CFE

Why government accounting is different, how governmental budgets are calculated, the Financial State of Colorado and other states, the current layout of government financial reports, and how governmental financial reporting should change to provide information to citizens, including taxpayers.

  • The Importance of Balanced Budgets and Accountability
  • The Current State of Governmental Accounting and Financial Reporting
  • Bringing Government Financial Reporting into The Future
11:10 am
OSA update including issues found in local government financial statements and the State of Colorado's audit.
Crystal Dorsey

Learn about common errors and best practices in local government audits. Also hear a general update about the OSA’s audit of the State of Colorado.  

  • Learn about common errors and best practices in local government audits.
  • Also hear a general update about the OSA’s audit of the State of Colorado. 
12:00 pm
Lunch
1:00 pm
Economic Outlook 2023
Rich Wobbekind

What are the short term and long term challenges and opportunities in this economy?

  • Where are we on the national and state level?
  • Debt, inflation and interest rates, oh, my!
  • How are governmental revenues impacted?
2:15 pm
Break
2:25 pm
GASB 87 and 96 - Tips for Implementing the Lease and Software Subscription Standards
John-Paul LeChevallier, CPA

Perform the calculations required under GASB 87 for lessee and lessor agreements. Create the journal entries required for lease agreements and recognize required disclosures for leases. Recognize similarities and differences between GASB 87 for leases and GASB 96 for software subscriptions. 

  • Tips for manually calculating net present value calculations and lease amortization schedules
  • Recognize the pros and cons of different lease liability and receivable amortization methods
  • Understanding the basics of GASB 96 for software subscriptions
3:40 pm
Update on SB22-238
Michael Valdez

With the repeal of the Gallagher Amendment in 2020, assessment rates are no longer constrained. SB22-238 will temporarily reduce residential and commercial property tax assessment rates, providing $700 million in savings over two years for Colorado homeowners and businesses. What will this mean for governmental entities?

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2022 Governmental Conference


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