Cherry Bekaert: Government & Public Sector

GASB 103 Budgetary Comparison Changes

In the final episode of Cherry Bekaert’s three-part GASB 103, Financial Reporting Model Improvements podcast series, we discuss the changes to budgetary comparison information. Co-hosts, Danny Martinez, CFO Advisory Partner, and Scott Anderson, Audit Partner, are joined by Vicki Dallas, CFO Advisory Senior Manager, to provide insight into what the Governmental Accounting Standards Board (GASB) aimed to achieve with these changes. They also highlight the issues governments have encountered around budgetary comparison schedules for the general fund and major special revenue funds.  Tune in to learn about:   * GASB’s purpose behind updating the budgetary comparison schedules for the general fund and special revenue funds with a legally adopted annual budget.  * Changes to the presentation of schedules and the notes to the required supplementary information (RSI)  * What governments need to do with the rest of their budget outside of the general fund and major special revenue funds   * How to determine what qualifies as a significant variance and requires additional explanation  * How Cherry Bekaert is helping governments with this area of GASB 103  * Key takeaways for governments regarding budgetary comparison information  Cherry Bekaert’s CFO Advisory team provides a comprehensive GASB 103 implementation offering that helps governments improve their budgetary comparison information process and fully comply with implementation requirements. We have a dedicated team of professionals who provide accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines.  View All Podcasts in this Series [https://www.cbh.com/guide/?s=&guidance-service=0&guidance-industry=government&guidance-type=podcasts&orderby=relevance&post_type=guide]

GASB 103 Proprietary Fund Classification Changes

In the second episode of Cherry Bekaert’s three-part GASB 103, Financial Reporting Model Improvements podcast series, we discuss the changes to classification and presentation of proprietary funds. Co-hosts, Danny Martinez, CFO Advisory Partner, and Scott Anderson, Audit Partner, are joined by Alyssa Rousseau, CFO Advisory Senior Manager, to provide insight into what the Governmental Accounting Standards Board (GASB) aimed to achieve with these changes. They also highlight the key challenges and surprises governments have encountered around classification, subsidies, and financial statement presentation. Tune in to learn about:  * GASB’s purpose for the classification changes and presentation of proprietary funds * Where governments could have the most challenges in applying the new guidance * How the changes impact the presentation of the proprietary fund statement of revenues, expenses, and changes in net position  * The new non-capital subsidies presentation and the two types of transfers * What governments should be doing to inform interested parties about these changes * How Cherry Bekaert’s advisory team is helping governments with this challenging area of GASB 103 * Key takeaways for governments about proprietary funds classification, presentation and GASB 103 Cherry Bekaert’s CFO Advisory [https://www.cbh.com/services/cfo-advisory-services/] team provides a comprehensive GASB 103 implementation offering that helps governments modernize their management discussion and analysis (MD&A) and fully comply with implementation requirements. We have a dedicated team of professionals who provide accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines. View All Podcasts in this Series [https://www.cbh.com/guide/?s=&guidance-service=0&guidance-industry=government&guidance-type=podcasts&orderby=relevance&post_type=guide]

MD&A Changes under GASB Statement 103

In this first episode of Cherry Bekaert’s three-part podcast series on the Governmental Accounting Standards Board (GASB) Statement No. 103, Financial Reporting Model Improvements, co-hosts Danny Martinez, CFO Advisory Partner, and Scott Anderson, Audit Partner, are joined by Michael Brotherton, CFO Advisory Senior Manager. Together, they discuss what is changing and what is being emphasized in the management’s discussion and analysis (MD&A). Insights include GASB’s reasoning behind these proposed changes and the surprises we’ve seen in early implementations. Tune in to learn about:  * GASB’s purpose for the MD&A changes * A detailed look at the new five-section criteria of the MD&A * How governments are using GASB 103 implementation as a reason to refresh both the MD&A and annual comprehensive financial report (ACFR)  * How Cherry Bekaert is using AI to help governments comply with new MD&A requirements * Examples GASB gives to help increase the quality of current known facts, decisions or conditions section * One takeaway governments should know related to the MD&A and GASB 103 Our CFO Advisory team [https://www.cbh.com/services/cfo-advisory-services/] provides a comprehensive GASB 103 implementation offering that helps governments modernize their MD&A and fully comply with implementation requirements. Cherry Bekaert has a dedicated team of professionals who specialize in providing accounting advisory services for governments [https://www.cbh.com/industries/government-nfp/government-and-public-sector/], equipping them with the confidence that their needs will not be put second to competing audit regulatory deadlines. View All Podcasts in this Series [https://www.cbh.com/guide/?s=&guidance-service=0&guidance-industry=government&guidance-type=podcasts&orderby=relevance&post_type=guide]

GASB 104 Explained: Key Accounting Updates

Part two of Cherry Bekaert’s Government & Public Sector Governmental Accounting Standards Board (GASB) Update podcast covers GASB 104, Disclosure of Certain Capital Assets, updates to the 2025 Implementation Guide and current projects at GASB. Danny  Martinez, CFO Advisory Partner, and Scott Anderson, Audit Director, break down what the latest updates mean, why they matter and how they could shape your reporting practices.  Whether you're a seasoned accounting professional or simply trying to stay current with governmental standards, this episode provides valuable insights, including: * An overview of GASB Statement No. 104 * Criteria for identifying capital assets held for sale * Disclosure requirements for sold assets * Guidance on implementing GASB 104 * Key updates from the 2025 Implementation Guide * Projects GASB is working on:  * Subsequent events  * Revenue and expense recognition  * Going concern uncertainties and severe financial stress  * Infrastructure assets  * What high-performing governments can do to stay ahead and prepare for successful implementation Cherry Bekaert’s CFO Advisory team provides a comprehensive GASB-as-a-service offering that helps governments overcome staffing and technical challenges. Cherry Bekaert has a dedicated team of professionals who specialize in providing accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines. Related Guidance GASB Update Part 1: What You Need to Know about GASB 102 & 103 [https://www.cbh.com/insights/podcasts/gasb-102-103-updates-explained/] View All Podcasts in this Series [https://www.cbh.com/guide/?s=&guidance-service=0&guidance-industry=government&guidance-type=podcasts&orderby=relevance&post_type=guide]

GASB 102 & 103 Updates Explained

In this episode of Cherry Bekaert’s Government & Public Sector podcast, Danny Martinez, CFO Advisory Partner, and Scott Anderson, Audit Director, discuss updates to Governmental Accounting Standards Board (GASB) 102 & 103. Whether you're a seasoned accounting professional or just trying to keep up with the latest in governmental accounting, this episode will help you understand what these standards mean, why they matter and how they could impact your reporting processes. Tune in to learn about:  * Disclosure criteria for GASB 102  * Guidance on constraints and concentrations that cause risks that impact a government’s ability to provide services  * How governments can use Cherry Bekaert’s GASB checklist to determine if there is a need to disclose * Understanding the components of GASB 103, and what was left out * How GASB 103 aims to enhance the effectiveness of the financial reporting model in five key areas  * Changes that are happening within proprietary fund statements  Cherry Bekaert’s CFO Advisory team provides a comprehensive GASB-as-a-service offering that helps governments overcome staffing and technical challenges. Cherry Bekaert has a dedicated team of experienced professionals who provide accounting advisory services for governments, equipping them with the confidence that their needs will not come second to competing audit regulatory deadlines. View All Podcasts in this Series [https://www.cbh.com/guide/?s=&guidance-service=0&guidance-industry=government&guidance-type=podcasts&orderby=relevance&post_type=guide]