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Publications

Applying Special Purpose Frameworks in State and Local Governmental Financial Statements

  • $79.00-$99.00
    Applying Special Purpose Frameworks in State and Local Governmental Financial Statements In Stock Product #: APAOCBO15P
    AICPA Member: $79.00
    Non-Member: $99.00
  • $69.00-$89.00
    Applying Special Purpose Frameworks in State and Local Governmental Financial Statements eBook Download Product #: APAOCBO15E
    AICPA Member: $69.00
    Non-Member: $89.00
  • $69.00-$89.00
    Applying Special Purpose Frameworks in State and Local Governmental Financial Statements Online Access Product #: APAOCBOO
    AICPA Member: $69.00
    Non-Member: $89.00

This practice aid is intended to provide accounting and auditing professionals with guidelines and best practices to promote consistency and for resolving the difficult questions of special purpose framework application, specifically for the financial statements of state and local governments. Although this practice aid is the best source for such guidance, it is nonauthoritative and should not be used as a substitute for the preparer’s professional judgment.

This publication is not intended for use by governments that are required by law, regulation, contract, or policy to prepare financial statements in accordance with GAAP.

Key Benefits Include:

  • Clarified and additional guidance and practice points related to the treatment of defined benefit pension plan and OPEB benefit costs
  • Additional practice points on accounting and reporting issues related to the timing of payroll payments and the impact of the use of special purpose frameworks on single audit low risk auditee status
  • Refinements to illustrative auditor reports and an added illustrative auditor report dealing with financial statements presented using both GAAP and special purpose frameworks

Updates:

  • GASB Statement No. 68, Accounting and Financial Reporting for Pensions
  • GASB Statement No. 77, Tax Abatement Disclosures

Who Will Benefit:

  • Auditors for state and local governments
  • Financial statement preparers for state and local governments

System Requirements

About the Authors

Michael A. Crawford, CPA



About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.