GASB proposes implementation guidance

GASB issued a proposed implementation guide Wednesday that is intended to clarify, explain, or elaborate on statements the board has issued on state and local government financial reporting.

The wide variety of practice issues addressed in the proposed implementation guide include questions related to accounting for:

• Pensions.
• Cash flow statements.
• The reporting entity.
• Certain investments.
• External investment pools.
• Fund balance.
• Tax abatements.

The proposed guide also would amend previously issued implementation guidance. Comments are requested on the exposure draft of Implementation Guide No. 201X-Y, Implementation Guidance Update—201X, by Jan. 31. Comments can be emailed to director@gasb.org.

—Ken Tysiac (ktysiac@aicpa.org) is a JofA editorial director.