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GASB Statement No. 72: How Do You Measure Up?
Responding to the need for greater clarity from stakeholders, GASB issued GASB Statement No. 72, Fair Value Measurement and Application. This standard, effective for reporting periods beginning after June 15, 2015, changed the way state and local governments report the value of investments and other financial instruments. Already familiar to practitioners in the for-profit arena, the concept of fair value is now applicable to accounting and reporting for state and local governments. This CPE course will teach you to apply the principles of this standard to your governmental financial statements via implementation guidance and interactive case studies.
Credits - 6.00
Melisa F. Galasso, CPA
Field(s) of study
Accounting (Governmental) and Auditing (Governmental)
Level of difficulty
Accounting and reporting of investments at fair value, Valuation techniques, Required note disclosures associated with fair value measurement
Apply the definition of fair value, Distinguish the definition of an investment, Identify investments not measured at fair value, Identify the valuation techniques acceptable for state and local governments
Auditors and financial managers responsible for the accounting and reporting of state and local governments
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