State of SC - Office of the

Comptroller General


Advisory Committee Meeting

 

August 1, 2000

 

 



State of SC - Office of the Comptroller General

Advisory Committee Meeting Agenda

August 1, 2000


  • Welcome and Introduction

  • GASB Statement 34 Resource Update
              - Technical literature
              - OCG website
              - Other websites

  • Agency monitoring activities
              - Quarterly progress reports
              - Reporting other significant issues

  • Tentative closing package/training schedule
              - Overall awareness/education
              - STARS changes/significant issues
              - Revised closing package training

  • Open discussion/issues


 



GASB Statement 34 Resources



Technical Literature

  • GASB Statements 34, 35

  • AICPA: Understanding and Implementing GASB's New Financial Reporting Model

  • GASB: Implementation Guide for GASB 34

  • GFOA: Governmental Accounting, Auditing and Financial Reporting - expected
    issuance in October 2000

OCG Website (http://www.cg.state.sc.us/gasb34/gasb34.htm)

  • Advisory Committee Organizational Chart

  • Overview -- GASB 34 Implementation in South Carolina

  • Minutes of the Advisory Committee meetings

Other Websites


 



Agency Monitoring Activities



Quarterly Progress Reports

  • Initial significant issues identified

  • Report progress toward those issues quarterly, including estimated completion dates

  • Identify completion of significant projects

  • Add additional issues to quarterly progress reports as needed

Reporting Other Significant Issues

  • Report other significant issues to OCG as necessary









 



Tentative Training Schedule -
State Agency Accountants



Overall Awareness/Education

  • Tentatively scheduled for October 2000

  • Approximately 2 hours

  • Topic: general overview of GASB 34 and significant state agency issues

STARS Changes/Other Issues

  • Tentatively scheduled for May 2001

  • Approximately 2-4 hours

  • Topic: discussion of STARS changes as a result of GASB 34, more detailed discussion
    of significant state agency issues (i.e. billing system changes, capital assets, valuation
    of receivables, etc.)

Revised Closing Packages

  • Tentatively scheduled for May 2002

  • Multiple all-day sessions

  • Topic: Detailed training on revised closing packages - each segment (2-4 hours)
    will cover a revised/new closing package, similar packages will be grouped on the
    same day


 



Open Discussion/Issues


  • Agency progress to date

  • Significant issues identified

  • Other

 

 

 

 

 

 

 

 



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