What exactly is a deferred outflow of resources? Why were certain balances moved off the asset and liability sections of the financial statements? How did GASB 65 change the way governments present deferred charges and credits?

These are some of the questions we’ll explore as we revisit GASB 65 and its lasting impact on governmental financial reporting.

Join LSL Senior Manager Berrett Warnick, CPA, as he discusses the reporting challenges that led to GASB 65, explains the introduction of deferred inflows and deferred outflows of resources, and examines how the standard continues to influence financial statements today.