GASB is considering postponing all statement and implementation guide provisions with an effective date that begins on or after reporting periods beginning after June 15, 2018, as a result of the coronavirus pandemic.
A proposal issued by GASB addresses certain component unit criteria and accounting for certain Internal Revenue Code Sec. 457 deferred compensation plans.
GASB issued a proposed concepts statement that would establish new criteria for what state and local governments should disclose in the notes to their financial statements.
A technical bulletin issued by the FASAB clarified accounting guidance for federal governmental entities on the loss allowance for intragovernmental receivables.
Issues for state and local governments related to lease accounting, other post-employment benefits (OPEB), and other topics were addressed in an omnibus standard issued by GASB.
GASB has selected Joel Black, CPA, partner-in-charge of the audit practice at accounting firm Mauldin & Jenkins LLC in Atlanta, as its next chair.
FASB’s standard for accounting for leases would be delayed for two years under a proposal issued Wednesday.
The nonauthoritative guidance addresses recent revisions.
Andy Nielsen received the 2019 Outstanding CPA in Government Career Contribution Award for significant contributions to the CPA profession through government service at the local, state, or federal level over a candidate’s career.
A new guide contains Q&As to assist in implementation.
A new accounting standard for federal government agencies eliminates the required stewardship information category and updates references to lease accounting.
The IASB and GASB acted to help financial statement preparers with the phaseout of interbank-offered rates that are used as interest rate benchmarks.
New guidance for performing single audits is contained in the Office of Management and Budget’s 2019 Compliance Supplement.
The board also published an implementation guide.
A new interpretation of Federal Financial Accounting Standards is designed to clarify the application of cleanup cost liability standards when multiple component reporting entities are involved.
State and local governments received implementation guidance for the Governmental Accounting Standards Board’s lease accounting standard.
Cloud and remote-access computing are growing more popular.
These practical illustrations give state and local governments insight into the new requirements of GASB Statement No. 87.
GASB issued an omnibus exposure draft covering accounting and financial reporting issues identified during the implementation of previous GASB guidance.
GASB proposed new guidance that would clarify the accounting and financial reporting of Internal Revenue Code Sec. 457 deferred compensation plans.