[CAFR-Contacts-News] Year End Training - Changes

[ROSS Kathryn * SCD SARS]

Accounting for Capital Assets, L&I Building, July 22 from 9:00 to Noon
(See details below)

________________________________

Hello CAFR Accountants,

 

I.        Over the past five months, SARS has held 9 small group
training sessions dealing with the implementation of GASB 54. 

 

*         The first four sessions introduced the topic, provided SARS
preliminary views, and asked for feedback from agencies.

 

*         The second five sessions discussed the research (including the
questions submitted to the GASB) and the final conclusions.  SARS also
reviewed two sets of step-by-step instructions designed to help agencies
determine (1) the appropriate fund balance category for each of their
governmental funds and (2) the proper use of special revenue funds.

 

Agencies were required to attend one session in each of the two groups
described above. 

________________________________

II.      SARS understands that this placed a burden on agencies,
particularly when extra travel was involved.  The feedback from agencies
has led SARS to consider the following points regarding year end
training for FY 2010.

  

*	The most important "new" issue (GASB 54) has already been
discussed twice in 2010, including the deliverables due in January 2011.
*	GASB 51, Intangible Assets, was covered in detail in June 2009.
SARS analysts have worked closely with their assigned agencies
throughout the year to answer questions regarding the capitalization of
software (both purchased and internally generated) and other
intangibles, such as land use rights and easements. Special instructions
for capitalizing assets retroactively and a summary of new GL accounts,
comp objects, and T-codes was emailed to agencies on February 5 and May
18. The retroactive instructions were also handed out at the year end
training in 2009.
*	GASB 53, Derivatives, affects only a handful of agencies.  SARS
has been working one-on-one with these agencies, as well as the Office
of the State Treasurer and Audits Division, to ensure compliance with
the new rules.
*	Several agencies have indicated that they are not interested in
attending training that is repetitive.

 

For these reasons, SARS will not hold a "general" year end training
session for FY 2010 and, instead, will offer focused training on
Accounting for Capital Assets, a topic that agencies have repeatedly
requested. This training will be held on Thursday, July 22.  A shorter
version of this training was presented at the 2010 Annual OSFA
conference. However, not every accountant attended the OSFA conference
and this training will be free!  If you are interested in attending or
have staff members you would like to attend, here are the details: 

            Date:                July 22, 2010

            Time:               9:00 a.m. to Noon (maybe 11:30)

            Location:          Labor & Industries Building

                                    Conference Room 260

                                    350 Winter Street NE

                                    Salem, OR

            CPE:                CPE will be provided based on a
50-minute training hour.

            Cost:                Free

            Registration:    Send an email to SCD.REGISTER at state.or.us

      The following information should be included in the text of your
email:

1.       Enter Capital Asset Training in subject line.

2.       Attendee name

3.       Agency name and address

4.       Email address

5.       Telephone number

________________________________

In the meantime, please pay close attention to the year end preclosing
activities and the comments you receive from SARS. If you have
questions, don't hesitate to contact your SARS analyst. If the issue
cannot be handled by email or the telephone, your SARS analyst will be
happy to meet with you and your staff in person. 

 

Thank you,

Kathy

 

Kathryn Ross

Statewide Accounting & Reporting Manager

Oregon State Controller's Division

155 Cottage Street NE, U-50

Salem, OR 97301

Phone:  (503) 373-7277, ext 253

Fax:  (503) 378-3514

http://oregon.gov/DAS/SCD/SARS <http://oregon.gov/DAS/SCD/SARS> 

 

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