GASB issues guidance for its reporting model related to subsidies

GASB issued an implementation guide intended to clarify requirements related to subsidies in Statement No. 103, Financial Reporting Model Improvements.

Implementation Guide No. 2026-1, Financial Reporting Model Improvements — Subsidies, contains seven new questions and answers that address the application of GASB requirements under Statement 103 related to subsidies. The guide also includes amendments related to subsidies to Question 4.5 in Implementation Guide No. 2025-1, Implementation Guidance Update — 2025.

Guidance in GASB implementation guides constitutes Category B GAAP, which is authoritative, according to a news release. GASB periodically issues new and updated guidance to assist state and local governments in applying GAAP to specific facts and circumstances that they encounter.

GASB seeks feedback on model for voluntary digital reporting

GASB is accepting comments through Nov. 30 on a discussion memorandum related to how GASB-GAAP taxonomy has been designed to enable digitization of financial statements.

Voluntary Digital Financial Reporting—Structural Design is a GASB staff document designed to seek early stage stakeholder feedback on how the taxonomy was organized to enable digitization of financial statements. It also asks respondents to comment on key taxonomy design considerations intended to help shape future voluntary digital financial reporting for state and local governments.

According to a news release, the document does not propose new accounting standards or reporting requirements.

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.