The board's fund balance reporting standard gets a positive review.
Three possible alternative recognition approaches for governmental fund reporting are included in an Invitation to Comment issued by GASB.
The board issued a standard on retiree benefits in 2015.
The FASAB issued a proposal that would change the requirements for a reconciliation between budgetary and financial accounting information.
GASB issued guidance for state and local governments to address asset retirement obligations related to tangible capital assets.
Omnibus 201X addresses practices of state and local governments.
FASAB wants useful reporting on intergovernmental and short-term leases.
A proposed implementation guide issued by GASB is designed to clarify, explain or elaborate on the board’s standards for state and local government financial reporting.
GASB’s standard for fund balance reporting and governmental fund type definitions for state and local governments achieves its purpose, a review panel has found.
Fran Lawrence, CPA, the CFO/deputy treasurer for the North Carolina State Treasurer, says you need to get creative in implementation planning.
The standard would unify handling of "in-substance defeasance."
The standard has been in place for 10 years.
GASB would provide answers to more than 150 questions about other post-employment benefit (OPEB) plan accounting in a newly proposed implementation guide.
The AICPA has presented three CPAs with Outstanding CPA in Government Awards.
The financial report of the U.S. government provides a view of the government’s current financial metrics and trends, as well as perspective on future issues and challenges, including long-term fiscal sustainability.
A proposal issued by the FASAB would require federal lessees to recognize a lease liability and a leased asset at the beginning of a lease, unless it is an intragovernmental lease or a short-term lease.
A GASB proposal would provide guidance addressing a multitude of issues that have arisen in state and local government financial reporting.
Accounting requirements for state and local governments for early extinguishment of debt would become more consistent under a proposal issued by the Governmental Accounting Standards Board.
GASB's rules for reporting on pollution mediation obligations provide for consistent, timely and complete reporting, according to a review.
GASB’s new accounting standards for other postemployment benefits (OPEB) are significantly different from previous standards for state and local governments.