Highlights

Building Blocks of Federal Financial Statements

Federal Community Encouraged to Comment on FASAB’s Recent Exposure Draft on Elements of Accrual-Basis Financial Statements

By: David Mosso, CPA
The information contained in this article is the unofficial view of one of the FASAB board members on one of the topics currently under review by the board. Official positions of the FASAB are determined only after extensive due process and deliberations.

After 10 years as chairman of the Federal Accounting Standards Advisory Board (FASAB), I will be turning the reins over to incoming chairman, Tom Allen, former Governmental Accounting Standards Board (GASB) chairman, on Dec. 31 of this year. Before my departure as FASAB chairman, I am pleased to summarize an exposure draft currently out for comment that will lay the foundation for the future development of federal accounting and reporting standards. Read Mr. Mosso's article.

View the CEAR Ceremony Photo Gallery!

Watch for TOPICS from the PDC!
AGA's Communications Department will produce special issues of TOPICS covering events at the PDC. Watch your in-box on June 20, 21 and 22. Can't attend AGA's 55th Annual Professional Development Conference & Exposition? We'll make you feel like you're there! Regular issues of TOPICS will resume on July 17. AGA Today will return on July 10. Thank you for your support of AGA's e-newsletters!

SEA Program Continues Review Cycle
So far AGA has awarded eight Certificates of Achievement in Service Efforts and Accomplishments Reporting this year. However, there is still time to submit your report for review, which is ongoing throughout the year. Contact Director of Performance Reporting Evie Barry at 800.AGA.7211, ext. 324 to find out more. Interested in being an SEA Program reviewer? Evie can give you more information about that as well!

Member Happening
Marie Caputo, CGFM, CPA, a member of AGA's Washington, D.C. Chapter, was named a partner at Clifton Gunderson LLP on June 1. Caputo has more than 14 years of experience and serves as the leader of the firm’s mid-Atlantic area nonprofit services team. She specializes in providing auditing, accounting and consulting services to nonprofit and governmental clients, as well as employee benefit plans, Clifton Gunderson announced.

Send your Member Happenings to Chris Camara for inclusion in future issues of TOPICS!

AGA Advertising Opportunities!
Advertise in AGA's electronic newsletters—TOPICS and AGA Today! Get maximum exposure and build your brand. Find all the information you need to run your ad! Or, you can contact AGA's Director of Communications, Marie Force.

Volume 45: Issue 12, June 12, 2006

TOPICS is Brought to You by AGA Corporate Partner

Grant Thornton Global Public Sector delivers financial, technology and performance management solutions to federal, state and local government clients, and international organizations. Call us to see if we can help your agency manage its resources more efficiently and effectively at 703.637.2750.

From the National President
Sam M. McCall, MPA, CGFM, CPA, CIA, CGAP

As the program year comes to an end, I want to thank you, the AGA members, for affording me the privilege of serving as your National President, and for all your support throughout the year.

Thank you to the members of the AGA National Executive Committee who provide thought leadership and vision for our Association, and to the members of the national committees and boards who selflessly donate their time and energy to make AGA the organization for advancing government accountability. Thank you to our Corporate Partner Advisory Group, especially for its work this year to publish timely research on government financial management while providing critical support to all AGA program areas.

Thank you to the AGA chapters. Our chapter members are the lifeblood of this organization. I attended more than 30 chapter and regional events during the year. I was made to feel truly welcome as I gained additional insight and appreciation for the hard work that goes into making successful chapters. I also want to thank the AGA National Office staff and Executive Director Relmond Van Daniker. I continue to be amazed by the quantity and quality of work produced by our staff and by their dedication to AGA. Read the rest of President McCall's final column.

It's Not Too Late to Register for AGA's PDC, Beginning This Weekend in San Diego!

Secure your place at the government financial management education event of the year–register today! If you are planning to attend the PDC in San Diego, it's not too late to register. Save yourself some time (and money) by registering online. Advance registration will be open until 3 p.m. on Wednesday, June 14, 2006.

After June 14, please register onsite. The Registration Desk will be located at the San Diego Marriott Hotel & Marina and is open beginning Sunday, June 18 at 8 a.m. We look forward to seeing you!

PDC Hotel Update
The San Diego Marriott Hotel & Marina and the Omni San Diego are sold out!

If you still need to book a room for the PDC, please call the Horton Grand at 619.544.1886 or 800.542.1886 and mention you are attending the AGA PDC. The Horton Grand still has a few rooms available at the $120 rate.

If you are unable to get a room at the Horton Grand, you may call San Diego Concierge for assistance at 800.979.9091. They will secure the lowest available rate at a hotel within walking distance of the conference hotel location. This is a free service for all AGA PDC attendees.

PDC Speaker Biographies Updated
Looking for more information on the speakers at this year’s PDC in San Diego? We have just updated the list of speaker biographies on the website. Take a look at our impressive list of speakers.

Attention CGFMs: Are You Keeping Proper Backup Documentation on Your CPE Activities?
CGFMs need to maintain documentation to substantiate their statements of completed CPE for a minimum of three years. This documentation may be requested by AGA as part of a CPE audit or a reactivation process.

The proper backup documentation must clearly state your attendance or completion of the CPE activity. Examples of such documentation include: a certificate of attendance or completion, a certificate of CPE hours earned, a grade report or an official letter from the event sponsor or your employer stating that you have attended the event.

The documentation must include the following information:

sponsoring organization,
location of the activity,
title of the program,
your name,
completion date (or dates attended), and
number of CPE hours earned.

Find out more about CGFM CPE requirements.

Emerging Issues at FASAB, GASB Audio Conference on Aug. 2
AGA, in conjunction with NASACT and ALGA (see article below about N.A.L.G.A. name change), is sponsoring an audio conference, worth 2 CPE hours, addressing "Accounting Concepts and Emerging Issues at the FASAB and GASB." Speakers are David Mosso, CPA, who will conclude his 10-year term as FASAB chairman at the end of 2006; Tom Allen, former GASB chairman and Mosso’s planned successor at FASAB; and Robert Attmore, CGFM, CPA, current GASB chairman. Join us from 2 – 3:50 p.m. EDT Aug. 2. Cost is $249 per site if you register on or before Friday, July 28, 2006 and $299 thereafter. Register online. AGA recently issued the 2006-2007 audio conference schedule, which is contained below. Find out more about AGA's Audio Conferences.

AGA's Audio Conference Series

DATE	TITLE
Aug. 2, 2006	Accounting Concepts and Emerging Issues at FASAB & GASB
Sept. 14, 2006	Risk Assessments for Performance Auditing
Nov. 8, 2006	The New Yellow Book
Dec. 6, 2006	Procurement Cards—Successes & Challenges
Feb. 28, 2007	Internal Controls
Mar. 28. 2007	Procurement Fraud
May 9, 2007	Ethics

Registration Now Open for AGA’s New Fraud Conference
Join us in Atlanta for AGA’s First National Internal Control & Fraud Conference, to be held September 25-26, 2006 at the Hyatt Regency Atlanta Hotel. With a theme of "Fraud Prevention and Detection: The Newest Tools and Techniques," the conference will focus on management's responsibility for ensuring a good system of internal controls and the role of all accountability professionals in minimizing the risk of fraud, waste and abuse. Hear from leaders in government and private industry who will discuss the latest discovery techniques and lessons learned from various schemes, and how different levels of government are cooperating to improve services to citizens.

Save the Dates!
AGA’s Second National Performance Management Conference is taking shape with the theme Integrating Measurement with Management: Making the Connection. Be sure to get connected with this conference on Oct. 30-31, 2006 in Schaumburg, IL, just north of the Chicago O’Hare Airport. Topics will include integration, managing for results and connecting management with measures. This is an excellent opportunity to talk with others who have struggled with how to report on Service Efforts and Accomplishments. Visit the conference website! Download and print the registration form.

Help Needed to Design Case Competition for Accounting Students
To promote careers in government, AGA is looking for interested academicians who would like to build a case to be showcased at major colleges and universities across the country in 2007. A case competition provides students with an opportunity to develop and strengthen skills from their classroom studies that will be critical for success during their employment search and throughout their careers. AGA will compensate the academicians who agree to construct the case. The deadline for the finished case is Jan. 9, 2007.

The case competition will feature an actual government financial management issue that a state, local or federal entity has faced. The finished case will be e-mailed to the registered teams at each institution. The teams will have one month to write a five-page response to the case. The responses will be judged by a selected panel of AGA members. The top two teams will be invited to attend AGA's National Leadership Conference in Washington, D.C. in February. During the conference, the teams will be given 30 minutes to offer an interactive presentation of their case response to a new panel of AGA judges. The winning team will be presented with a cash prize and a commemorative crystal award for the school.

Our hope is that this competition will generate interest in a government financial management career. If you are interested in this project, or if you have any questions, please contact Jennifer I. Curtin, MPA, or call 800.AGA.7211, ext. 340.

Local Government Auditors Group Announces Name Change
The National Association of Local Government Auditors has changed its name to the Association of Local Government Auditors. The association will go by the acronym ALGA (formerly N.A.L.G.A.). A task force had recommended the new name, in part because charter members in 1989 had originally established the "Association of Local Government Auditors." Also, the constitution and bylaws call for bringing together local government professionals from around the world. Almost 8 percent of the membership is from outside the U.S., including 20 member organizations based in Canada. The ALGA vote came during the May 23 annual meeting in San Jose, CA, with more than 90 percent in favor of the name change. While a new website is being developed, ALGA information can be found at www.nalga.org.

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