×

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 Availability : 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 Availability : 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 Availability : 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

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 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 specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.