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GASB issues implementation guidance

By Ken Tysiac

Please note: This item is from our archives and was published in 2018. It is provided for historical reference. The content may be out of date and links may no longer function.

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GASB issued implementation guidance Monday 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 postemployment benefits, the statistical section, regulatory reporting, and tax abatement disclosures.

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

—Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.