The GASB Standards Update will provide participants with a working knowledge of recently release standards of the Governmental Accounting Standards Board (GASB).  Standards that will be addressed are compensated absences, including an in-depth look at how the liability is determined; certain risk disclosures, including what events could trigger the disclosure requirements; the recently introduced financial reporting model improvements, including a detailed look at what makes a great management’s discussion and analysis (MD&A) letter; and new capital asset disclosure requirements. In addition, this session will bring participants up-to-speed on projects that currently are being deliberated by the Board or are being researched by the GASB staff.  Those projects include subsequent events, going concern uncertainties and severe financial stress, infrastructure assets, revenue and expense recognition, and voluntary digital financial reporting.