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American Accounting Association
Webinar Series on Accounting Research and Education
In the complicated world of financial reporting, litigation presents a unique maze of challenges that demand a collaborative effort from three key principals of the corporate world: attorneys, auditors, and management. This interactive presentation is designed to shine a light on the communications needed throughout the litigation process facing corporate America. Actual disclosures made by companies through their litigation disclosures will be highlighted through comparative analysis. We will address the key issues of timing, probability, and estimation techniques, and explore the unique perspectives and vested interests of each stakeholder group.
Learning Objective(s): 1. To learn how stakeholder groups influence litigation disclosures. 2. To compare and analyze litigation disclosures from companies on opposing sides. CPE Information: Accounting - 1.2CH
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As part of the presentation Christine Kuglin, created the following informational video on understanding the changes being implemented through the Financial Data Transparency Act.
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Build on the knowledge you learned in the video and let your voice be heard at
GovFin 2024: Municipal Reporting Workshop in New York City
July 29-30, 2024
Learn more and register now: https://xbrl.us/events/govfin24/
This workshop will engage attendees in a dialogue about the challenges and opportunities for municipal bond issuers and investors in implementing the Financial Data Transparency Act (FDTA). Sessions will cover the impact of the FDTA on small and large governments, special districts and general-purpose governments; updates on the GASB’s work developing data standards to represent government financials; a discussion about how accountants, lawyers, and underwriters can support issuers in the transition. Register before May 31 for the reduced government rate of $97 (25% off regular Government attendee rate).
SAVE the DATE: GovFin 2025 will be hosted by the Truth in Accounting Project at the University of Denver at the end of July 2025.
Contact Judi Willard for sponsorship opportunities at jwillard@truthinaccounting.org
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Speaking of special districts….A TIA Research Report
The Truth in Accounting project at the University of Denver was awarded a research initiative grant aimed at evaluating the feasibility of implementing the new FDTA standards for special district governments. Special district governments, include entities such as Hospital/Health, Fire Protection, Metropolitan, and School districts, and they often present unique challenges in representing their financial statements due to the diverse array of line items they report.
The research project, funded by the Mercatus Center, embarked on a pilot program to assess the awareness and interest of special district governments regarding the FDTA requirements. It also aimed to develop digital data standards tailored to accurately express the financial intricacies of these entities. Through extensive outreach efforts, the research team engaged with various special district governments to gauge their understanding of the legislation and its potential implications.
Read the groundbreaking report here.
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Faculty Mentor Award
The prestigious Faculty Mentor award by Eastern Washington University has been given to Christine Kuglin, J.D., CPA, and current Director of the Truth in Accounting project at the University of Denver. This accolade comes following a nomination by her former student, Leonie Dela Rosa. Previously, Christine chaired the School of Professional Accounting at Eastern before her tenure at Truth in Accounting. She is set to receive this honor on June 14, 2024, at an awards ceremony where Leonie will also receive the Dean's Excellence Award.
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Outstanding Research Assistant TIA intern, Bright Ikwetie wins Outstanding Research Assistant Award at the University of Denver: (pictured to the right is Bright Ikwetie and Christine Kuglin, J.D. CPA, Director of Truth in Accounting Project, DU.)
"I am happy to be nominated for the award in the first place. It shows how TIA values team members' hard work and dedication. There is always operational and moral support from the management team, Sheila Weinberg and Dr. Christine Kuglin towards the team, ensuring a conducive working environment for optimal and efficient performance."
Bright came to the University of Denver in pursuit of a Masters of Science in Accounting, Technology and Analytics at Daniels College of Business, where he majors in Robotic automation processes. He is ethically driven, self-motivated, and passionate about the accounting profession and information technology. TIA has secured partial funding for Bright to build the software and taxonomies to automate the TIA proprietary methodology, allowing us to expedite our analysis in hours instead of weeks and months. Giving us the opportunity to expand our mission and formalize and document Truth in Accounting’s institutional knowledge. You can read more about Bright here.
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Meet Hailey! (And her dogs, Athena & Argos)A dynamic force among our team of college interns, diving deep into the intricate world of government financial reports, expertly gathering and dissecting data with precision.
We're thrilled to have Hailey onboard, driving excellence with every keystroke!
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State Government Spending as Percentage of GDP
"State Government Spending as Percent of GDP" shows the percentage of a state's Gross Domestic Product (GDP) that comprises a state government's total spending. This figure is useful for comparison of state spending levels, although each state faces unique economic circumstances. For 2022 the states with the lowest percentages were Georgia, Texas, Florida, Nebraska, and Colorado. Florida, Nebraska, and Colorado also have Taxpayer Surpluses in TIA's Financial State of the States. The national average for all 50 states was 12.4 percent.
The state government spending component of this number is taken from the U.S. Census Bureau's Annual Study of State Government Finances and is found independently on Data-Z under the heading Total Expenditures. The GDP used for this calculation is the Nominal GDP.
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