GASB issues implementation guidance

Pensions, post-employment benefits, and more are addressed.

GASB recently issued implementation guidance that is intended to clarify, explain, or elaborate on some of the board's accounting standards for state and local governments.

The guidance is included in Q&A format in Implementation Guide No. 2018-1, Implementation Guidance Update — 2018. The update contains new guidance on GASB standards on pensions, other post-employment benefits, the statistical section, regulatory reporting, and tax abatement disclosures.

Requirements in the implementation guide took effect for reporting periods beginning after June 15, 2018.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

SPONSORED REPORT

Getting leases in line

ASC 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.