Government Accounting


The Governmental Accounting Standards Board (GASB) issued Statement no. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, which generally requires state and local governments to account for and report costs and obligations related to postemployment health care and other nonpension benefits, commonly referred to as other postemployment benefits, by the same methods they use for pensions ( www.gasb.org/news/nr080204.html ). Large—in terms of total annual revenues—government employers must implement the statement’s provisions for periods beginning after December 15, 2006. Midsize and small governments have one and two years beyond that date, respectively, to comply. GASB published related guidance—Statement no. 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans ( www.gasb.org/news/nr051104-A.html )—in April. Both statements are available from GASB’s order department at 800-748-0659 or online at http://store.yahoo.com/gasbpubs .

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.