welcome to the year-end gaap reporting workshop june 9, 2004
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Welcome to the Year-End GAAP Reporting WorkshopWelcome to the Year-End GAAP Reporting Workshop
June 9, 2004June 9, 2004
Technical UpdateTechnical Update
Presented by Mark Thomas
Partner - KPMG LLP
Presented by Mark Thomas
Partner - KPMG LLP
GASB Statement No. 39
Determining Whether Certain Organizations Are Component Units, an Amendment of GASB Statement 14
Effective: Fiscal Year 2004
– Statement of Cash Flows is not required
– Elimination of Nonexchange Transactions
GASB Statement No. 40
Deposit and Investment Risk Disclosures, an Amendment of GASB Statement 3
Effective: Fiscal Year 2005
GASB Statement No. 42
Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries
Effective: Fiscal Year 2006
GASB Statement No. 43 Financial Reporting for Postemployment Benefit
Plans and Other Than Pension Plans
Annual Revenues
> $100 million
> $10 million and
< $100 million
< $10 million
Effective date
Fiscal Year 2007
Fiscal Year 2008
Fiscal Year 2009
GASB Statement No. 44
Economic Condition Reporting: The Statistical Section – an Amendment of NCGA Statement 1
Effective: Fiscal Year 2006