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GASB Statement No. 69 Government Combinations and Disposals of Government Operations

Understand the unique conditions present in government combinations and disposals addressed in GASB Statement No. 69. Historically, when combinations occurred in the governmental environment, the guidance of APB Opinion 16, Business Combinations was used, followed by FASB Statement No. 141, Business Combinations, later revised, and FASB Statement No. 164, Not-for-Profit Entities: Mergers and Acquisitions. These were developed for nongovernmental entities and therefore addressed situations that would not normally be present in a government combination and did not address conditions and circumstances normally would be present in government combinations. This topic helps government finance directors, accounting managers and auditors understand GASB Statement No. 69, Government Combinations and Disposals of Government Operations, which was written to improve financial reporting of the various types of government combinations. The topic explains how to distinguish between the different types of combinations and how to properly account for these transactions, including special considerations for capital assets as well as the required note disclosures. Additionally, this topic discusses reporting of disposals and provides examples of the most common types of combinations. This statement is effective for government combinations that occurred in financial reporting periods beginning after December 15, 2013.


Runtime: 60 minutes
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Agenda

Introduction

  • Need for This Statement
  • Effective Date
  • Scope

Mergers - No Significant Consideration

  • Creation of One or More New Governments
  • Creation of One or More Continuing Governments

Acquisition - Significant Consideration

  • A Government Acquires Another Entity (or Its Operations)
  • Consideration
  • Acquisition Costs
  • Intra-Entity
  • Provisional Basis

Transfers - No Significant Consideration

  • To an Existing Entity
  • To a New Government

Disposals

  • Recognition of Gain or Loss
  • Reporting

Notes

  • For All Government Combinations (Mergers, Acquisitions, Transfers)
  • For Mergers and Transfers
  • For Acquisitions
  • For Disposing Government

Illustrations

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Credits

OnDemand Webinar

This course was last revised on September 26, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • GA CLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MO CLE 1.2
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Karen E. Kurtin, CPA, CFE

Karen E. Kurtin, CPA, CFE

BKD, LLP

  • Senior manager in the office of BKD, LLP
  • Practice emphasizes all aspects of governmental and not-for-profit accounting and auditing
  • Conducts regular seminars on current GASB pronouncements, including GASB Statement No. 68
  • Member of the American Institute of CPAs, Association of Certified Fraud Examiners, Special Review Committee of the Government Finance Officers Association, and the Texas Society of Certified Public Accountants
  • M.S. degree, accounting and information management, The University of Texas, Dallas; B.S. degree, mathematics, Texas A & M University, College Station
  • Can be contacted at 972-702-8262 or [email protected]
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Product ID: 397873
Published 2016
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