Research and reflect

Leepa Rattner 2016 Financial

View our guest speaker
Cristina McCormack’s video sharing information about the Leepa Rattner Museum
of Art (LRMA) and how Governmental Accounting Standards Board (GASB) prepared
financial statements differ from financial statements prepared under Financial
Accounting Standards Board (FASB). See 2016 Annual Report linked to
above. In addition read about upcoming changes to our revenue recognition
standard on the top of page 121 of our text titled “Coming
Soon” which is part of the convergence initiative with International
Accounting Standards Board (IASB).

McCormack’s Presentation

Research and reflect on the

similarities/differences between these standards and share what your have

learned from your research/reflection. If you have visited the LRMA please also

share with your peers what you have learned from this experience and how it

relates to learning about their financial statements.

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