Instructor Biography

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Kenneth Schermann

Ken is the senior technical advisor at the Governmental Accounting Standards Board (GASB) in Norwalk, CT.  He joined the GASB in 1984 and was the project manager on several cornerstone projects, including Statement 9 on Cash Flow Reporting, Statements 14, 61, and 80 on the Financial Reporting Entity, Statement 34 and its related implementation guides on the financial reporting model, and Statement 54 on Fund Balance Reporting.  He was more recently involved with Statement 60 on Service Concession Arrangements, Statement 65 on Reporting Deferred Inflows and Outflows, Statement 69 on Government Combinations, and Statement 84 on Fiduciary Activities.  Ken is currently working on projects dealing with Measurement and Recognition Concepts, Leases, Revenue and Expense Recognition, Debt Extinguishments, and Debt Disclosures.  He also serves as the GASB’s liaison to the AICPA and other professional organizations.  

Before joining the GASB Ken was an audit partner with a regional CPA firm in Peoria, Illinois where he was responsible for the services provided to many local governments and not-for-profit organizations.  He graduated from Bradley University in 1972 and has been a CPA since 1974.  Ken writes and speaks extensively on a variety of governmental accounting and financial reporting issues.