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. This course explores case studies, real-world examples, and hands-on practice scenarios. Learn to apply the principles of this GASB standard to your governmental financial statements.
Course ID: GARU
Governmental Accounting and Reporting Advisor
- Apply the definition of fair value and an investment.
- Identify investments not measured at fair value.
- Identify the valuation techniques acceptable for state and local governments.
- Analyze the note disclosures required by GASB Statement No. 72.
- Accounting and reporting of investments at fair value
- Valuation techniques
- Required note disclosures associated with fair value measurement