The #GASB has voted to approve Statement 105, Subsequent Events - in my opinion, a significant improvement over the existing standards, which are over 50 years old and never intended for governments. The substance is essentially the same but they are much easier to understand.

gasb.org

I am very excited to announce the publication of the 10th edition of "Government and Not-for-Profit Accounting: Concepts and Practices" with Michael Granof, Saleha Khumawala, and Thad Calabrese! Ordering information here: bit.ly/3MkAN4l

The next meeting of the #GASB is April 29 to May 1. You can watch meetings live or recorded. The agenda:

· Implementation Guidance—Update
· Infrastructure Assets
· Revenue & Expense Recognition
· Subsequent Events
· Technical Plan
· Meeting w/ AICPA State and Local Government Expert Panel

In a Nutshell: Severe Financial Stress and Probable Dissolution On Friday, March 28, the Governmental Accounting Standards Board posted a due process document for public comment: Preliminary Views (PV), Severe Financial Stress and Probable Dissolution Disclosur…

The #GASB posted a document for public comment, Severe Financial Stress and Probable Dissolution Disclosures, proposing to replace the standards for #goingconcern with separate evaluations of “severe financial stress” and “probable dissolution.” Here is a thumbnail sketch of the proposal.

GASB: 2024 in Review and What’s Ahead in 2025  | Carr, Riggs & Ingram GASB just issued five key documents that provide insight into the future of governmental accounting in 2025.

GASB marked its 40th anniversary in 2024 by issuing five documents, a significant uptick in its activity since the pandemic. Its recent achievements offer valuable insight into what to expect in 2025.

#GASB #GAAP #governmentalaccounting #standardsetting #accountingstandards

"Race relations can be an appropriate issue... but only if you want to craft solutions, and not catalogue complaints. If we use the issue appropriately, we can transform it from the cancer of our society into the cure." ~ David Dinkins

#qotd #quotes #positivity #blackhistorymonth

“We should measure the prosperity of a nation not by the number of millionaires, but by the absence of poverty, the prevalence of health, the efficiency of the public schools, and the number of people who can [and] do read worthwhile books.” ~ W.E.B. Du Bois

#qotd #quotes #blackhistorymonth

“Change will not come if we wait for some other person, or if we wait for some other time. We are the ones we’ve been waiting for. We are the change that we seek.” — Barack Obama

#qotd #quotes #positivity #blackhistorymonth

“Where you see wrong or inequality or injustice, speak out, because this is your country. This is your democracy. Make it. Protect it. Pass it on.” ~ Thurgood Marshall

#qotd #quotes #positivity #blackhistorymonth

"Stand for something or you will fall for anything. Today's mighty oak is yesterday's nut that held its ground." ~ Rosa Parks

#qotd #quotes #positivity #blackhistorymonth

“Not everything that is faced can be changed; but nothing can be changed until it is faced.” ~ James Baldwin

#qotd #quotes #blackhistorymonth

Truth is powerful and it prevails. ~ Sojourner Truth

#qotd #quotes #positivity #truth

“Freedom has never been free.” ~ Medgar Evers

#qotd #quotes #blackhistorymonth

The essence of warriorship, or the essence of human bravery, is refusing to give up on anyone or anything. ~ Chogyam Trungpa

#qotd #quotes #buddhism #shambhala #positivity #positivequotes

GASB Pronouncement Effective Dates | Carr, Riggs & Ingram A quick guide that references gasb pronouncements and the effective dates for the definitive statement numbers in accounting.

Download CRI's GASB Pronouncement Effective Date table to quickly reference pronouncements that are effective for the years ending March 31, 2024, and beyond.

#GASB #CRI #accountingstandards #governmentalaccounting #governmentaccounting #GAAP

“I’ve been absolutely terrified every moment of my life—and I’ve never let it keep me from doing a single thing I wanted to do.”—Georgia O’Keeffe

#qotd #quotes #positivity #positivequotes #georgiaokeeffe

“Thousands of candles can be lighted from a single candle. Happiness never decreases by being shared.”—Buddha

#qotd #quotes #buddhism #positivity

“If there is no struggle, there is no progress.”
— Frederick Douglas

#quotes #quote #qotd #positivevibes #positivity #positivequotes

“To love means loving the unlovable. To forgive means pardoning the unpardonable. Faith means believing the unbelievable. Hope means hoping when everything seems hopeless.”—G.K. Chesterton

#quotes #qotd #positivevibes #positivity #positivequotes

Implementing Nonprofit ERM Strategies | Carr, Riggs & Ingram CRI can help your organization with the process of nonprofit enterprise risk management strategy, including implementing controls.

NFPs navigate a world filled with both opportunities and challenges. To achieve their mission, proactively managing risks is essential. Learn how a tailored Enterprise Risk Management strategy can help safeguard your mission, deter fraud, and strengthen your organization’s impact. #Nonprofit #NFP

“You pray for the hungry. Then you feed them. That’s how prayer works.”—Pope Francis

#positivity #positivevibes #positivequotes #endhunger #feedthehungry

The Growing Importance of Intellectual Property Valuations | Carr, Riggs & Ingram Intellectual property (IP) valuations have garnered more attention in recent years as the knowledge-based economy has taken hold.

90% of the S&P 500’s market value is driven by intangible assets like patents, trademarks, and copyrights. As intellectual property grows in importance, protecting and valuing it correctly can boost your business's value, market share & competitive edge.

#CRIadv #IntellectualProperty #IPValuation

Unraveling Transfer Pricing Rules in Mexico | Carr, Riggs & Ingram Unravel compliance mandates and internal best practices to streamline your international taxation process when navigating Mexico's Transfer Pricing rules.

Navigating global tax regulations can be challenging, especially for businesses involved in cross-border transactions. Mexico has prioritized Transfer Pricing, highlighting the need for strict compliance and thorough documentation. #TransferPricing #InternationalTax #TaxCompliance

IRS Issues Standard Mileage Rates for 2025 | Carr, Riggs & Ingram The IRS has announced the standard mileage rates for business, charitable, medical, and moving purposes for 2025.

The IRS has released the 2025 optional standard mileage rates for deductible vehicle expenses related to business, charitable, medical, or moving purposes. These rates apply to all vehicle types and are effective starting January 1, 2025. #MileageRates #TaxDeductions #IRSUpdates

Newsletter Sign-Up | Carr, Riggs & Ingram Are you interested in Carr, Riggs, and Ingram? Sign up for CRI news about in-depth features of taxes, accounting, auditing, and more.

EXTRA, EXTRA!! 📰 📈⁠
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Our January Newsletter is hot off the press! Click the link below and get the inside scoop from CRI. ⁠

www.criadv.com/newsletter-s...
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#CRIadv #taxalert #happynewyear #news

Tax Concerns for Self-Employed Individuals | Carr, Riggs & Ingram Taxes for self-employed have more concerns than their W-2 worker counterparts, but these burdens are manageable with the right guidance.

Self-employed? Navigating tax season can be tricky, but it doesn't have to be! CRI's latest guide covers everything from deductions to compliance tips to help you manage your taxes like a pro.

#SelfEmployed #TaxTips #TaxPlanning

3 Common Questions & Answers: Nonprofit Audit* Committee | Carr, Riggs & Ingram CRI’s not-for-profit team has compiled a list of the three most common questions we’re typically asked about nonprofit audit committees.

A nonprofit audit committee can be an important part of any organization’s governance structure. Think of an audit committee as an intermediary between the organization’s external auditor and the management/leadership of the organization.

#Nonprofits #Transparency #Governance #AuditCommittee

Big Changes to Section 529 Plans | Carr, Riggs & Ingram Learn how recent changes make 529 plans more flexible for education and financial planning beyond college savings.

The latest updates to Section 529 plans bring exciting opportunities for savers. From expanding qualified expenses to enhanced tax benefits, these changes could affect how you save for tuition, K-12, and even student loans!⁠
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#CRIadv #529Plans #EducationSavings #CollegeFund #StudentLoans

After 24 years serving as the GASB's staff coordinator for the GASAC, it is an honor to join the ranks of its members. I look forward to contributing and representing the views of the National Federation of Municipal Analysts.

#GASB #GASAC #accountingstandards #governmentalaccounting #NFMA

What You Need to Know About Social Security Changes for 2025 | Carr, Riggs & Ingram The SSA's 2025 changes impact benefits and taxes for retirees and high earners. Plan ahead to stay financially prepared.

The Social Security Administration recently announced significant changes for 2025 that will impact both current retirees and higher-earning workers. #socialsecurity #retirementincome #CRI

www.criadv.com/insight/2025...