FMN Accounting

FMN Plus-2024/July, Seg 2 - Illuminating Government Accountability: Financial Data Transparency Act

The Financial Data Transparency Act (FDTA) marks a pivotal step towards greater accountability and efficiency in government finances. For state and local governments, this means a significant shift towards clearer reporting practices and enhanced accessibility of financial information. Joel Black, Chairman of the GASB, and Phil Marciano, Partner at Citrin Cooperman, discuss the FTDA and its implications for state and local governments. They address concerns from stakeholders, including the impact on financial reporting, the role of auditors, and the potential benefits of machine-readable financial information.

Learning Objectives:

  • Identify the objectives of the FDTA, its impact on the work of auditors and accountants, and what technological changes may be necessary
  • Recognize the GASB’s interest in the FDTA and its role in development and implementation
  • Distinguish the difference between a data standard and standard data as it applies to compliance with FDTA
  • Identify the evolution and development of the governmental financial reporting taxonomy and similarities and differences from the FASB taxonomy



Prerequisites/Advanced Preparation:

None

Speakers / Authors:

Joel Black was appointed the new chairman of GASB

Phil is a Managing Director and a member of the Nonprofit, Government and Healthcare Group located in our Woodbury, New York office, who has been serving clients since 2012. A CPA, Certified Government Financial Manager and a Chartered Global Management Accountant, he is recognized as a national resource for government and nonprofit accounting. Phil regularly leads training sessions for professional staff and has given seminars on behalf of the New York State Government Finance Officers Association, New York State Association of School Business Officials, New Jersey Society of Certified Professional Accountants and the Institute of Internal Auditors (Long Island Chapter). He is a discussion leader and instructor for the AICPA and Surgent Professional Education on subjects including governmental and nonprofit accounting and auditing.

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Price (USD)

Standard: $69.90

Details

Course Code : FMN1573-FM

Release Date : 07/10/2024
Expire Date : 02/13/2026
Credits :
CPE 2.00
QAS 2.00
Length : 1hr 40min
Course Level : Update
Course Type : QAS Self-Study
Passing Grade : 70%

Mobile Compatible
Field Of Study : Accounting - Governmental

Theme : Financial Reporting Issues

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