The title of this session is not only a great question, but a great question that maybe doesn’t yet have a great answer yet. This session will take a much deeper dive into the Financial Reporting Model Preliminary Views document, any subsequent Board decisions, and the Board’s decision-making process that has led to where we are today. Specifically, we will focus on the governmental funds measurement focus and recognition issues, while also addressing some of the more interesting proposed changes related to financial statement formats and presentations.
1. Identify the Board's tentative conclusions on the reexamination of the financial reporting model.
2. Apply how the coming Exposure Draft will impact your government.