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The Audit Connection Blog

Results for: BARS


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NEW GAAP BARS guidance: Contingencies and litigations

March 21, 2019

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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Pensions and other postemployment benefits (OPEB) update

December 18, 2017

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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BARS Manual receives regular update for 2018

December 13, 2017

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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BARS roundtable sessions scheduled

August 25, 2017

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.

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We value local government feedback

November 3, 2016

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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