GASB Guy

12/11/2025

Earlier this week, the Governmental Accounting Standards Board (GASB) voted to approve Statement No. 105, Subsequent Events. The new Statement is, in my opinion, a significant improvement over the existing standards, which are over 50 years old and were never intended for governments. Although the substance of the requirements are essentially the same, I think the new version of the standards is much easier to read and understand and, therefore, to apply consistently across governments. You can expect to find Statement 105 on the GASB website sometime in the next week or so. The effective date begins with fiscal years ending 6-30-27 and later. Congratulations to the Board and the project team: Emily Paul, Joe Wicklund, Emma Reinhart, and Brette Thornton!

12/11/2025

To paraphrase a classic film: "The new textbook's here! The new textbook's here! This is the kind of spontaneous publicity I need. My name in print. That really makes somebody. Things are going to start happening to me now!"

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: http://bit.ly/3MkAN4l

When I was on the Governmental Accounting Standards Board (GASB) staff, I was asked several times to join the author team for textbooks but sadly had to decline due to the FAF's conflict-of-interest policy. I've read them all at one time or another, and my favorite by far was Granof. Imagine my jealousy when he added Saleha and Thad as authors! So when Michael approached me almost immediately after I left the and the leadership at Carr, Riggs & Ingram gave the okay, I was thrilled to sign on.

Why did I love Granof's text above all others? (TBH, I love ALL governmental accounting books.) Because reading it is like listening to Michael talk about accounting (which, as you know, is fascinating). Nothing is accepted as given; the text discusses how the GASB arrived at major decisions and gives ample space to opposing views. is treated not as holy writ, but as a body of rules that result from human choices that must balance competing interests and practical concerns. Consequently, the standards don't always end up being what one might consider to be the optimal approach from an economic, financial, policy, legal, accountability, or other perspective. Students certainly learn all the debits and credits and other fundamentals of GNP accounting, but they also are challenged to consider WHY the standards require what they do and whether they believe those are the best approaches.

This new edition is fully up to date on the standards of the GASB, Financial Accounting Standards Board (FASB), Federal Accounting Standards Advisory Board, U.S. Government Accountability Office (GAO), AICPA, and U.S. OMB, including the forthcoming changes under GASB Statement 103. It includes dozens of new "In Practice" sidebars, exercises, and problems; an expanded glossary and new acronym guide; a continuing exercise through each chapter using a newly selected actual government (or one of the professor's or students' choosing); entirely new illustrations from real government ACFRs; and so much more.

Let me know if you have any questions. As you might imagine, I'm excited to talk about it.

06/29/2025

Come visit the Carr, Riggs & Ingram booth ( #122, next to the giant Oracle sign) at the 2025 Government Finance Officers Association (GFOA) Conference in Washington, DC!

05/14/2025

The insurance industry is experiencing a tech-driven transformation. Once cautious adopters, insurers are now investing in innovation and building dedicated teams to embrace advancements like autonomous vehicles and health-monitoring wearables. What once felt futuristic is now shaping the future of insurance.

Insurers are embracing emerging technologies to boost efficiency, unlock new revenue, and stay compl...

05/13/2025

We are thrilled to invite you to the 2025 Southern Grants Forum, the premier grants training conference in the region, taking place July 14-17, 2025, in the vibrant city of New Orleans, Louisiana.

Why Should You Attend SGF 2025?

Comprehensive Learning: Engage in more than 20 informative sessions covering the latest developments in federal grants management, fiscal integrity, human resources, governance, and programmatic issues.

Expert Speakers: Learn from industry leaders who will share actionable insights and practical strategies to enhance your organization’s grant management practices.
Networking Opportunities: Connect with fellow grants professionals, exchange ideas, and build lasting relationships during our networking luncheons and events.
Experience the Big Easy! While attending the conference, immerse yourself in the rich culture, cuisine, and music of the Crescent City.

Don’t miss this opportunity to enhance your grants management skills and enjoy the unique charm of New Orleans. Check out session highlights and register now to attend the 2025 Southern Grants Forum by visiting https://southerngrantsforum.com/register-now/

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05/12/2025

State and local governments are receiving billions in opioid settlement funds following major nationwide lawsuits. But unlike pandemic-era grants, these funds come with distinct requirements that impact how and when the money is received, used, and reported. Understanding these differences is critical for proper accounting and compliance with GASB standards.

State and local governments consider several factors when accounting for $54 billion in settlements ...

05/07/2025

In uncertain economic times, protecting your retirement savings is more important than ever. Converting a traditional IRA to a Roth IRA could be a smart move—but it’s not right for everyone. With Roth conversions now permanent under the TCJA, it’s important to understand the pros, cons, and how each option aligns with your long-term goals.

It’s tough to understand the differences between traditional and Roth IRAs, minimizing tax liability...

05/05/2025

Accounting automation is revolutionizing finance—streamlining workflows and reducing errors. But with greater efficiency comes greater risk. Over-reliance on automation can leave businesses vulnerable to system failures and cyber threats. Is your financial data secure? Learn about the hidden risks of automation, discover best practices, and take actionable steps to strengthen your cybersecurity defenses.

Explore the benefits and risks of accounting automation—and how to protect your financial data in a ...

04/30/2025

No one enters a marriage expecting it to end—but planning for financial “what-ifs” is a smart, modern move. Understanding your state’s property-division rules, documenting premarital assets, and considering a prenuptial or postnuptial agreement can help protect both partners, reduce future stress, and lead to a stronger future together.

While it's nice to plan for a lifetime of love, it's also important to safeguard your assets against...

04/29/2025

A federal judge has struck down CMS’s controversial minimum staffing rule for long-term care facilities, offering relief to many in the LTC sector. The ruling challenges provisions finalized in April 2024, which mandated strict RN coverage and minimum staffing hours.

Federal judge strikes down CMS’s LTC staffing rule, easing provider concerns and challenging regulat...

04/28/2025

Businesses rely on third-party vendors now more than ever—but with that convenience comes risk. From cloud systems to IT support, vendor relationships can streamline operations, but they also introduce serious cybersecurity vulnerabilities. Are you doing enough to protect your data and reputation?

Vendors streamline operations—but they can also open the door to cyber threats. Learn how to protect...

04/24/2025

The next meeting of the Governmental Accounting Standards Board is April 29 to May 1. You can watch meetings live or recorded. The agenda for this meeting includes:

• Implementation Guidance—Update: reviewing the penultimate draft of a final Implementation Guide, scheduled for release in June
• Infrastructure Assets: starting redeliberations based on the public feedback on the September 2024 Preliminary Views
• Revenue and Expense Recognition: continuing discussion of measuring transactions, and significant financing components of transactions
• Subsequent Events: starting redeliberations based on the public feedback on the November 2024 Exposure Draft
• Technical Plan: Reviewing the proposed plan for June–September 2025
• Annual meeting with the AICPA’s State and Local Government Expert Panel