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GASB 77: What you need to know about tax abatement disclosures

Date:
Tuesday, December 13, 2016
View On-Demand
With GASB 77, there are new rules about disclosing tax abatement information. Wondering what agreements would apply? Our webinar goes through all the details for you.

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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.

Learning objectives

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

Presenters

  • Keith Szymanski
  • Chris Geck

Moderator

  •  Michelle Watterworth

Additional information

  •  Prerequisites/Advance Preparation: None
  • Program Level: Basic
  • Delivery Method: Group internet-based 
Plante & Moran, PLLC, is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417 or by visiting the website: www.nasba.org >>

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