Government


GOVERNMENT
GASB issued Statement no. 52, Land and Other Real Estate Investments Held as Investment by Endowments. This statement requires that endowments report their land and other real estate investments at fair value, improving the quality of financial reporting and creating reporting consistency among similar entities. The statement requires governments to:

Report the changes in fair value as investment income.

Disclose the methods and significant assumptions employed to determine fair value and provide other information currently presented for other investments reported at fair value.

The statement will become effective for periods beginning after June 15, 2008, but earlier implementation is encouraged. For more information, go to www.gasb.org.

 

©2008 AICPA

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.