Did you know there are over 1,400 codes in the chart of accounts of the Budgeting, Accounting, and Reporting System (BARS) Manuals for GAAP and cash-basis governments? One of these, code 3480000 Internal Service Fund Sales of Goods and Services, may be used only in particular circumstances.
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The Budgeting, Accounting and Reporting System (BARS) Manuals for GAAP and cash basis governments have been updated and are available on our website at www.sao.wa.gov/, under “BARS & Annual Filing.”
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The Office of the Washington State Auditor is pleased to announce a new, expanded fall outreach event that takes the place of the BARS Roundtables. The SAO Roadshow will travel to a location near you beginning in October and offer a full day of assistance and training.
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The 2019 Budgeting, Accounting and Reporting System (BARS) update for entities that report using generally accepted accounting principles (GAAP) has a new section on accounting for “contingencies and litigations,” and we encourage you to check it out. It includes a comprehensive chart that will help financial statement preparers more quickly assess potential accounting and disclosure requirements. It also includes guidance on how to handle expected insurance recoveries related to a contingent liability.
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Mark your calendars – we will be offering our Budgeting, Accounting, and Reporting System (BARS) Roundtables again this fall. The Roundtables are free, three-hour sessions that are open to all local governments.
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The GAAP and cash basis BARS manuals have been updated, and the 2017 pension worksheet, notes and RSI templates are now available on our website at www.sao.wa.gov. The 2017 DRS Participating Employer Financial Information (PEFI) report is available at www.drs.wa.gov. Now that you have the information and tools you need to begin calculating your 2017 pension numbers, this is a great time to get started. As in the past, our Office will provide one-on-one assistance to local governments with their calculations.
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It’s that time of year again! The updated 2018 version of the Budgeting, Accounting and Reporting System (BARS) Manual will be available on our website in the third week of December. While users may notice several changes in this update, the most significant revision to the 2018 BARS Manual centers on reporting schedules for cities and counties, and specifically Schedule 07 – Cash Disbursements, and Schedule 11 – Cash Activity. A new schedule, Schedule 06 – Summary of Bank Reconciliation, makes an appearance in the 2018 cash-basis manual to accommodate those changes to Schedules 07 and 11.
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We are offering the BARS Roundtable Sessions again this fall. The roundtable discussions are free, three-hour feedback opportunities open to all local governments. Past attendance included more than 400 local government representatives the last two years.
… CONTINUE READING → The GAAP and Cash Basis BARS manuals have been updated and are available on our website at www.sao.wa.gov.
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The Budgeting, Accounting, and Reporting System (BARS) roundtables are underway in various locations all over the state. Discussion in these free three hour meetings presented by the State Auditor’s Office, includes many topics such as: Information on changes to the BARS manual, a preview of requirements for upcoming GASB standards, demonstration of the Financial Analysis Tool (FIT), and discussion of other valuable resources and trainings free to local governments.
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