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.

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