When does a capital asset become “held for sale”? If something significant happens after year-end, does it belong in the financial statements? When does a subsequent event require a journal entry versus a disclosure?

These are just a few of the questions governments are asking as they prepare to implement GASB 104 and GASB 105.

Join LSL Senior Manager Jayme Lambert, CPA, as he walks through the requirements of both standards, discusses common implementation questions, and shares practical examples of how the guidance applies in real-world reporting situations.

He’ll cover how to:

• Understand the key requirements of GASB 104 and GASB 105
• Identify capital assets that require separate disclosure
• Evaluate reporting requirements for capital assets held for sale
• Distinguish between recognized and nonrecognized subsequent events
• Determine when subsequent events require financial statement adjustments versus disclosure only
• Apply the guidance through practical examples and common reporting scenarios

Jayme will also take questions through a live Q&A.