The new standard also requires the disclosure of additional essential debt-related information for all types of debt, including amounts of unused lines of credit and assets pledged as collateral for debt.
Specialized knowledge is critical when performing engagements under Government Auditing Standards and compliance audits of federal funds (single audits). Test your expertise in this area.
The board also issued guidance on other post-employment benefits.
The proposal seeks to balance the public interest with security needs.
GASB is seeking public feedback as it develops a revenue and expense recognition model for state and local government accounting.
State and local government finance staffs have had to implement several new, significant GASB statements. Here are tips for handling the challenges.
Technical bulletins provide guidance for federal agencies.
GASB issued a guide that addresses questions and answers about the new state and local government standard for other postemployment benefits.
The FASAB issued a proposal that’s designed to protect national security information from being disclosed in publicly issued financial reporting by federal agencies.
GASB issued separate proposals on capitalization of interest costs and an upcoming guide to implementing recent pronouncements.
The Federal Accounting Standards Advisory Board addressed accounting for intragovernmental exchange transactions and assigning assets to component reporting entities.
The AICPA presented three CPAs with Outstanding CPA in Government Awards.
Federal agencies received new guidance for applying alternative methods in establishing opening balances for general property, plant and equipment.
The Federal Accounting Standards Advisory Board issued a new statement that establishes foundational concepts for federal agencies’ financial reporting.
FASAB's proposed rules would revise current standards for federal agencies to provide for recognition of inter-entity costs by business-type activities.
The information about debt disclosed by state and local governments would change if a new GASB proposal is approved.
Statement No. 86 applies in certain situations involving an irrevocable trust.
GASB issued a statement that is designed to help align the accounting and financial reporting of lease transactions more closely with their economic substance.
The new requirements take effect this month.
The topics include competence, CPE, independence, quality control, and internal control.