This 16-hour session will cover the basic principles of governmental accounting with an emphasis on accounting and reporting. Topics include fund accounting, fund reporting, the conversion process for preparing the government-wide financial statements and preparation of the comprehensive annual financial report.

Welcome & Announcements, Committee Chairman Ron Queen

This session will cover recently issued and recently effective pronouncements issued by the GASB.  It will also include an overview of the projects on the Board’s current agenda, including Service Concession Arrangements (Public Private Partnerships), Reexamination of Statement 14, The Financial Reporting Entity, Pension reporting issues, and others.

The more things change, the more things change! There is no shortage of news to report about the ever changing world of accounting and audit. This presentation addresses important current issues related to the field of accounting and audit from the perspective of the Department of Audit. Topics include Single Audit, GASBS No. 51 and 54, Contract e-filing, Fraud reporting and other matters.

The GASB recently issued Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions.  This new Statement will affect all entities that use the governmental fund structure.  Find out about clarifications to the governmental fund type definitions, how to classify fund balance amounts, reporting encumbrances, presenting rainy day funds, and other aspects of governmental fund reporting. 

The transparency and accountability features of ARRA have served to focus a laser beam of attention on the accounting profession. This is both the opportunity and challenge that we face, and information is the key to success. 

This presentation will address the nuts and bolts of (a) Reporting under Section 1512 of the Act; (b) Compliance with Office of Management and Budget (OMB) Memorandums; (c) applying the Directives issued by the Tennessee Office of Recovery Act Management (TRAM); and (d) changes to Single Audits because of ARRA.

The time for implementing the requirements for these two standards is upon us.  Learn what constitutes pollution remediation and how to apply the expected cash flows method for calculating the liability.  What is an intangible asset?  How should it be measured and recognized in governmental financial statements?  This session will address those questions and others.

During the last few years, the Governmental Accounting Standards Board (GASB) has issued a number of statements that changes the financial statement reporting requirements for state and local governments. The governmental entity is responsible for incorporating the changes and for the overall fair presentation of the financial statements, and the auditor is responsible for expressing an opinion of to their fair presentation. This session will address the common reporting deficiencies noted in the review of the financial statements as performed by the staff of the Division of Municipal Audit.

This 16-hour session will cover the basic principles of governmental accounting with an emphasis on accounting and reporting. Topics include fund accounting, fund reporting, the conversion process for preparing the government-wide financial statements and preparation of the comprehensive annual financial report.

There never seems to be an uneventful year when it comes to single audits.  This session will cover the latest activities coming out of the AICPA and others including new auditing standards on Compliance Auditing and Supplementary Information, new sampling guidance, new practice aids and tools, updates to the AICPA audit guide in this area and more.  Activities of the AICPA Governmental Audit Quality Center will also be addressed.  A high-level discussion of the Recovery Act will be held to tee up the more detailed session to be held in a separate conference session.

The American Recovery and Reinvestment Act of 2009 continues to be a hot topic in the single audit arena.  While there was some effect on June 30, 2009, single audits, the implications for 2010 are much broader in that many more entities have received and expended Recovery Act funds.  This session will cover the guidance that has been issued in this area, with a particular focus on the auditor's perspective.  Guidance issued by the AICPA Governmental Audit Quality Center will also be discussed.

This session will provide updates of changes in charity and church law and procedures. Learn method of expense allocation between program, administrative and fund raising activities.

This session will familiarize and update participants with the Tennessee Accountancy Act and the roles and responsibilities of the Tennessee State Board of Accountancy. You will receive a review of the accountancy laws and rules, as well as the state laws and regulations regarding licensing, continuing education, peer review, disciplinary procedures and more. By increasing your knowledge and understanding of these laws and standards, you will be prepared to legally and ethically address challenges that may arise.

This session provides an overview of Emergency Communications Districts (E911) in the State of Tennessee and addresses the various regulatory requirements and current developments for E911s.  In addition, the session will address current accounting and auditing issues as well as recent problems encountered in the review of the audit reports of the E911 districts.