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Presentations: GASB 34 Auditing Challenge

In June 2001 Library Journal published “Do You Know the REAL Value of Your Library?” by Thomas J. Hennen Jr. The article covers GASB 34. Pronounced to rhyme with The Great Gatsby), this is a new set of accounting rules, considered by accountants to be the most monumental change in government financial reporting in American history.

The new rules may prove hazardous or helpful to public libraries—depending on the knowledge base that library planners bring to the table. According to the new rules, when auditors prepare the annual audit (Comprehensive Annual Financial Report) according to Generally Accepted Accounting Principles, they will be required to capitalize and depreciate library book and materials collections.

The presentation is not an accounting or finance seminar, but a strategy session. The presentation will look at strategies for implementing the rules to the library’s advantage. Expect to laugh as well as learn in this session. “There are three types of librarians,” Hennen adds with a smile, “those that can add, and those that cannot. This presentation is for all types.”

Room Setup details.

I will need a screen and projector that can connect with a computer using Microsoft Powerpoint. I expect to be able to load the software and test the equipment at least a half an hour before the program. I prefer a portable microphone as well as a podium.

Type and Length of Presentation:  One to two hour lecture/discussion session.

Contact:  Thomas J. Hennen Jr. at thennen@haplr-index.com  

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October 2008

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