The Governmental Accounting Standards Board (GASB) recently issued GASB Statement No. 103, Financial Reporting Model Improvements, that becomes effective as of fiscal year end June 30, 2026. This update to GASB Statement No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments is the first significant change to the current reporting model since Statement No. 34 was issued in 1999. This one-day course will review all of the required changes included in GASB Statement No. 103, as well as current common external reporting deficiencies.

Capital asset accounting and financial reporting continues to present significant challenges for state and local governments. This course will address common problem areas and review recommended approaches for proper accounting and reporting of capital assets. Participants will explore the calculation of net investment in capital assets, along with best practices for capitalization thresholds, depreciation, and key internal controls.