GASB on Tuesday published an exposure draft covering a wide range of accounting and financial reporting issues discovered during the implementation and application of previous GASB pronouncements.
The Exposure Draft, Omnibus 20xx, covers issues including:
- The effective date of Statement No. 87, Leases, to address concerns regarding interim financial reports
- Reporting of intra-entity transfers of assets between a primary government employer and a component unit pension plan or other postemployment benefit (OPEB) plan
- The applicability of Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not Within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68, as amended, and Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, as amended, to reporting assets accumulated for pensions and OPEB
- The applicability of certain requirements of Statement No. 84, Fiduciary Activities, to pension and OPEB arrangements, and
- Measurement of liabilities and assets, if any, related to asset retirement obligations in a government acquisition.
Comments on the exposure draft are due by Oct. 4, 2019.
—Jeff Drew (jeff.drew@aicpa-cima.com) is a JofA senior editor.
