Learn how to successfully identify and account for intangible assets within your organization.
The implementation of GASB 34 raised many questions regarding accounting and financial reporting for capital assets, specifically intangible capital assets. This created inconsistencies in accounting for intangible assets across state and local governmental entities. This presentation outlines GASB Statement No. 51, Accounting and Financial Reporting for Intangible Assets. Attendees will learn about the reasons for the implementation of the standard, as well as how to successfully identify and account for intangible assets within their organization.
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Why Lorman?
Over 37 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.
Agenda
Why Do We Have the Standard?
- GASB 34 Created Questions About the Recognition of Intangible Assets
- To Reduce Inconsistencies in Accounting and Financial Reporting of Intangible Assets.
- Foster Greater Comparability Among State and Local Government Financial Reporting
GASB 51 - Economic Resources Measurement Focus
- All Intangible Assets as Defined by GASB 51 Should Be Capitalized.
- Asset Must Be Separable (Able to Sell)
- Discussion on Internally Generated Intangible and Computer Software
GASB 51 - Current Financial Resources Measurement Focus
- Disbursements Are Recorded as Expenditures Are Incurred
- Government Wide Adjustment as Part of GASB 34 Conversion
Impacts From Future Standards
- GASB 87
- GASB 9
- Other Considerations
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Why Lorman?
Over 37 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.
Credits
OnDemand Course
This course was last revised on December 3, 2024.
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
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 37 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
Daniel Anderson, CPA
Mauldin & Jenkins, LLC
- Partner with Mauldin & Jenkins, LLC in the Bradenton, FL office
- Specializes in governmental auditing in the state of Florida
- Frequently speaks at Florida GFOA events from state level to chapter level
- Member of AICPA, GFOA, FGFOA, FICPA, and Bradenton Kiwanis
- B.S. degree in accounting, The Florida State University
- Can be reached at [email protected] or 941-747-4483
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More Program Information
Why Lorman?
Over 37 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.
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