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The public sector finance and administration market is rapidly moving to so-called “4th Generation Enterprise Resource Planning (ERP) systems,” often referred to as “Intelligent ERP.” This approach combines advanced digital technologies, such as robotic process automation and artificial intelligence, to automate many financial business process areas. We will explore several use cases for adopting these technologies and the related value proposition in this session.
Examine the new standards going into effect, including Statement No.84, Fiduciary Activities and Statement No.87, Leases. We’ll also cover projects on the Board’s technical agenda, such as the reexamination of the financial reporting model, the revenue/expense recognition project and the note disclosure conceptual framework project.
Student activity funds (SAFs) are a focus for the implementation of the Governmental Accounting Standards Board’s (GASB) Statement No. 84, Fiduciary Activities and for compliance with the Massachusetts Department of Elementary and Secondary Education’s (DESE) regulations, internal controls, policies and procedures. In this session, you’ll learn how DESE’s role has evolved and the provisions and implementation strategies of GASB Statement No.84 regarding SAFs.