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.
Governmental
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.
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 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.
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.
CPAs honored for outstanding service in government
The AICPA has presented three CPAs with Outstanding CPA in Government Awards.
A 10-K for the taxpayer
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.
New lease accounting standard proposed for federal entities
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.
GASB proposal addresses various practice issues
A GASB proposal would provide guidance addressing a multitude of issues that have arisen in state and local government financial reporting.
GASB proposal seeks uniformity in accounting for early debt extinguishment
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 pollution remediation reporting standard meets objective, review finds
GASB's rules for reporting on pollution mediation obligations provide for consistent, timely and complete reporting, according to a review.
Getting familiar with OPEB
GASB’s new accounting standards for other postemployment benefits (OPEB) are significantly different from previous standards for state and local governments.
FASAB seeks transparency on government tax expenditures
The proposed standard is intended to improve transparency for users.
