- news
- GOVERNMENT
GASB implementation guidance addresses issues with recent standards
Please note: This item is from our archives and was published in 2016. It is provided for historical reference. The content may be out of date and links may no longer function.
Related
AICPA pushes for congressional support of Fiscal State of the Nation Act
SEC proposes amendments to small entity definitions
Key signals from the SEC-PCAOB conference point to a busy new year
GASB issued implementation guidance Thursday that is intended to clarify, explain, or elaborate on recent standards issued for state and local government financial reporting.
Questions on standards recently issued by GASB on fair value and tax abatement disclosures are the primary issues addressed in 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In addition, the guide reinstates certain previously superseded questions and answers that have been updated for the effects of newly issued standards on pensions and other post-employment benefits.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.
—Ken Tysiac (ktysiac@aicpa.org) is a JofA editorial director.