To help state and local governments implement its new
financial reporting model, GASB issues two additional standards:
Statement no. 37, Basic Financial Statements—and Management’s
Discussion and Analysis—for State and Local Governments: Omnibus
and Statement no. 38, Certain Financial Statement Note
Disclosures ( http://accounting.rutgers.edu/raw/gasb/news/nr062801.html
).
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SPONSORED REPORT
Getting leases in lineASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.