GOV2315. What's Coming for Recognizing Those Revenues and Expenses

In this session we will discuss the current status of the Revenue and Expense Recognition Project. We'll recap some of the key provisions proposed in the Preliminary Views document and compare some of those key provisions with existing guidance. In addition, we will highlight some of the public feedback provided to the GASB about the proposals.

Learning Objectives:

• Identify the reasons the GASB is taking a comprehensive look at revenue and expense recognition.
• Analyze the GASB's preliminary views regarding a new approach for categorization of transactions.
• Identify the recently proposed changes to the Preliminary Views.
• Apply the tentative recognition decisions to case studies.