PITI-VITI Home Event Subscribe icon Training Event Subscribe 2nd icon Upcoming Events

GASB and Standards Updates

Course Category Audit

September 11, 2025

8:00 a.m.

Change

On-Site

This course will be delivered on-site in CNMI.

Registration is open to insular government professionals.

Course Description

The GASB Standards Update will provide participants with a working knowledge of recently release standards of the Governmental Accounting Standards Board (GASB). Standards that will be addressed are compensated absences, including an in-depth look at how the liability is determined; certain risk disclosures, including what events could trigger the disclosure requirements; the recently introduced financial reporting model improvements, including a detailed look at what makes a great management’s discussion and analysis (MD&A) letter; and new capital asset disclosure requirements.

In addition, this session will bring participants up-to-speed on projects that currently are being deliberated by the Board or are being researched by the GASB staff. Those projects include subsequent events, going concern uncertainties and severe financial stress, infrastructure assets, revenue and expense recognition, and voluntary digital financial reporting.

What You Will Learn

How to determine and report vacation and sick leave liabilities
What triggers disclosures associated with certain concentrations and constraints
Information needed to prepare a great MD&A
Other important changes made to the financial reporting model, including budgetary comparisons, proprietary fund and business-type activities reporting, and major component unit presentations
Disclosure requirements for capital assets held for sale
Where the GASB will most likely be going next

Who Should Attend

APIPA conference sessions are intended for island government accountability professionals. Audit, budget, finance, accounting, and related management and staff members will find interest and value in this presentation.

This session is intended for anyone that has an interest in learning more about recently issued GASB standards and the future of governmental accounting.

Tuition Fees

With funding support from the United States Department of the Interior, Office of Insular Affairs, courses are available free of charge for government accountability professionals within the insular areas. The course fee is waived and there is no cost to register and attend, Professionals who do not meet the above criteria, please contact [email protected].

NEXT SESSION

DAYS

HOURS

MINS

SECONDS

September 11, 2025

8:00 a.m. to 5:00 p.m.

Change

CPEs - 8 Credit Hours

On-Site, CNMI

TBD, CNMI

Panelists

David Bean

Springfield, IL

David R. Bean, CPA, is the chief executive officer of Governmental Accounting Research, LLC, a consulting and training firm dedicated to public sector accounting and financial reporting activities. Prior to his retirement from the Governmental Accounting Standards Board (GASB) in 2021, David served as the GASB director of research and technical activities over 30 years.

Frank Crawford

Oklahoma City, OK

Frank Crawford is President of Crawford & Associates, P.C., Certified Public Accountants, an accounting firm located in Oklahoma City, OK. He is currently the Chairman in the Oklahoma Society of CPAs Government Accounting and Auditing Committee (19 years) and has also been involved in a number of other AICPA committees and task forces. Frank was also recognized as a recipient of the Graduate School's "2010 Instructor Excellence Award".

Photo Gallery

Photos from recent activities hosted by the Pacific and Virgin Islands Training Initiatives (PITI-VITI) in support of conferences, training and leadership development, are available below.