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2025 Yellowbook Webinar Series: Session 7 – Financial Reporting / Accounting Reporting Deficiencies

Sikich

Aug 21 2025

1 min read

Sikich experts Matthew Geerdes, CPA, MBA, and Anthony Cervini, CPA, CFE, guide viewers through key financial reporting challenges and updates in this insightful YellowBook webinar session. They cover common accounting and financial reporting deficiencies, offering practical recommendations for remediation. This session will highlight the following key takeaways:

GASB 100 discusses how to classify and report various accounting changes and error corrections. The guidance includes when to use the “ghost column” presentation for funds that meet the definition of major per Statement 34, or are no longer considered major under that same guidance, which can be a common error.
GASB 101’s guidance on compensated absences lends to several common errors, including inaccurate assumptions for settlement via usage, missing salary-related payments, and missing disclosure elements.
Net Investment in Capital Asset calculations required by GASB Statement 34 can have errors due to missing or misclassified amounts like deferred refunding and retainage payable.
Budget vs. Actual Presentations must show sufficient detail to demonstrate legal compliance and avoid misclassification in non-GAAP reporting.

Watch the full recording to stay informed and prepared for evolving financial reporting standards.

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About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 