Governmental

New GASB guide addresses fiduciary activities

GASB issued a new implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities.

GASB proposes guidance on PPPs and APAs

The guidance is designed to improve accounting and financial reporting for public-private and public-public partnership arrangements. Comments on the proposal were requested by Sept. 13.

GASB issues implementation guide

GASB issued an implementation guide that is designed to assist state and local government financial reporting personnel as they adopt and apply certain GASB statements.

Chief accountant Wesley Bricker to leave SEC

Wesley Bricker is leaving the SEC after serving as its chief accountant since 2016, the commission announced. Sagar Teotia, deputy chief accountant, will serve as acting chief accountant after Bricker departs in June.

Yellow Book revisions update independence guidance

Revised rules published in July 2018 by the U.S. Government Accountability Office clarify the need for safeguards for practitioners when performing preparation of accounting records and financial statement services.

FASAB proposal seeks clearer materiality guidance

The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements.

SPONSORED REPORT

The technology assessment engagement

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FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.