- Tuesday, December 13, 2016; 2 p.m. EST
Late in 2015, the Governmental Accounting Standards Board issued Statement No. 77, requiring government organizations to disclose in the notes of their financial statements certain information related to tax abatement agreements. This statement applies not only to a reporting government’s own tax abatement agreements, but also to those that are entered into by other governments that reduce the reporting government’s tax revenues. The Statement is effective beginning with December 31, 2016 financial reports.
This webinar defines a tax abatement, covers several specific examples and whether GASB 77 applies to them, and details the information required to be disclosed.
At the conclusion of this session, participants will be able to:
- Define tax abatements under GASB 77
- Identify examples common to local units of government and whether GASB 77 applies
- Understand the required discosures
- Keith Szymanski
- Chris Geck
- Michelle Watterworth
- Prerequisites/Advance Preparation: None
- Program Level: Basic
- Delivery Method: Group internet-based