GASB establishes new approach for reporting leases
GASB issued a statement that is designed to help align the accounting and financial reporting of lease transactions more closely with their economic substance.
Governmental
GASB omnibus addresses wide range of accounting issues
The new requirements take effect this month.
GAO proposes revisions to government auditing standards
The topics include competence, CPE, independence, quality control, and internal control.
GASB issues rules for accounting for certain debt extinguishment
New rules issued by GASB address accounting for debt extinguishment prior to its maturity when bond proceeds are not used.
GAO proposes revisions to government auditing standards
Requirements for auditors related to competence, continuing professional education, auditor independence, and other topics would change under revisions to Government Auditing Standards proposed by the U.S. GAO.
GASB addresses wide range of accounting issues
GASB issued a new statement that addresses a wide range of accounting issues that have challenged state and local government financial statement preparers.
GASB introduces possible new approaches for governmental fund reporting
The proposal builds on 2 years of research.
GASB tackles asset retirement, proposes implementation guide
The board's fund balance reporting standard gets a positive review.
GASB introduces possible new approaches for governmental fund reporting
Three possible alternative recognition approaches for governmental fund reporting are included in an Invitation to Comment issued by GASB.
GASB proposes OPEB implementation guidance
The board issued a standard on retiree benefits in 2015.
FASAB proposes changes to budget and accrual reconciliation
The FASAB issued a proposal that would change the requirements for a reconciliation between budgetary and financial accounting information.
GASB issues guidance on asset retirement obligations
GASB issued guidance for state and local governments to address asset retirement obligations related to tangible capital assets.
GASB proposal responds to implementation issues
Omnibus 201X addresses practices of state and local governments.
New accounting standard proposed for federal entities’ leases
FASAB wants useful reporting on intergovernmental and short-term leases.
GASB proposes implementation guidance
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 fund balance reporting standard gets positive review
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.
GASB proposes new guidance on early debt extinguishment
The standard would unify handling of "in-substance defeasance."
GASB’s pollution remediation reporting standard gets a good review
The standard has been in place for 10 years.
Fran Lawrence, CPA
Fran Lawrence, CPA, the CFO/deputy treasurer for the North Carolina State Treasurer, says you need to get creative in implementation planning.
GASB proposes OPEB implementation guidance
GASB would provide answers to more than 150 questions about other post-employment benefit (OPEB) plan accounting in a newly proposed implementation guide.
