MRSC Insight Blog

Posts for Financial Reporting

The Annual Financial Report for 2020

February 25, 2021 by Eric Lowell
Category: Financial Reporting

This blog post reviews a few of the major updates to the Annual Financial Report for reporting year 2020.

What’s New with Form 1099?

January 7, 2021 by Eric Lowell
Category: Accounting , Financial Reporting

This blog discusses new changes to Form 1099 and Form 1096.

Choosing the Right Annual Financial Report for Your Entity

May 11, 2020 by Mike Bailey
Category: Financial Reporting

In the final installment of this four-part series, this blog post compares cash-basis and GAAP-reporting options for filing the required annual financial report.

Annual Financial Reporting Options: Cash-Basis

April 30, 2020 by Toni Nelson
Category: Financial Reporting

This blog post describes the cash-basis reporting option available to local governments for filing an annual financial report.

Annual Financial Reporting Options: GAAP-Basis

March 12, 2020 by Mike Bailey
Category: Financial Reporting

This blog post describes the GAAP-reporting option for annual financial reporting for local governments.

Annual Financial Reporting Options for Washington Local Governments

February 27, 2020 by Mike Bailey
Category: Financial Reporting

This blog article describes the annual financial reporting options available to local governments in Washington State.

The Annual Financial Report for 2019

January 23, 2020 by Toni Nelson
Category: Financial Reporting

This blog post highlights changes to the State Auditor’s Office Annual Financial Report for ‘cash-basis’ accounting and reporting entities.

New Guidance in Accounting for and Reporting Leases

November 4, 2019 by Mike Bailey
Category: Accounting , Revenues , Financial Reporting

This blog post looks at the new standards the Governmental Accounting Standards Board has released regarding accounting for and reporting leases.

The Annual Financial Report for 2018 (Part 2)

February 27, 2019 by Toni Nelson
Category: Financial Reporting

This 2-part series highlights changes to the annual update to accounting and reporting requirements (BARS Alerts & Overview of Significant Changes). This post focuses on changes to Notes to Financials and in the Supplemental Schedules.

The Annual Financial Report for 2018 (Part 1)

February 25, 2019 by Toni Nelson
Category: Financial Reporting

In this 2-part series, Financial Consultant Toni Nelson will be highlighting changes to the annual update to accounting and reporting requirements (BARS Alerts & Overview of Significant Changes) from the State Auditor's Office. Part 1 focuses on changes to the Chart of Accounts.

Year End is a Busy Time for Finance

January 4, 2019 by Toni Nelson
Category: Financial Reporting

This article reviews some of the most important year-end reporting requirements and deadlines, including the "open period" and federal W-2, W-3, and 1099-MISC reporting requirements.

Beyond the Annual Financial Report: Communicating Your Agency's Financial Data

May 12, 2015 by Toni Nelson
Category: Financial Reporting

As financial reporting to the State Auditor's Office wraps up, Toni Nelson explains some other types of financial reports you should be providing to management and elected officials.