GASB addresses questions about fair value, tax abatement

A new implementation guide clarifies practice issues.

Implementation guidance from GASB addresses questions about new standards for state and local government financial reporting.

Fair value and tax abatement disclosures are the primary issues for Implementation Guide No. 2016-1, Implementation Guidance Update—2016.

In addition, the guide reinstates certain previously superseded questions and answers that have been updated for the effects of newly issued standards on pensions and other post-employment benefits. Other practice issues also are addressed in the implementation guide, which takes effect for reporting periods beginning after June 15, 2016.

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.