GASB Accounting Requirements

Topics

June 23, 2025

GASB updates guidance on application of standards

The guide aims to assist state and local governments via a series of questions and answers.

April 18, 2025

Financial Accounting Foundation issues annual report

FAF report highlights recent FASB and GASB actions and updates its strategic plan published three years ago.

November 25, 2024

GASB issues two exposure drafts for comment

The Governmental Accounting Standards Board aims to bring clarity to the financial reporting of subsequent events and to a variety of topics in its implementation guide.

October 18, 2024

GASB provides guidance for certain capital assets

GASB issued guidance for certain types of capital assets to be disclosed separately for purposes of note disclosures.

May 29, 2024

GASB updates its financial reporting blueprint

New guidance features targeted improvements to the financial reporting model established for state and local governments 25 years ago.

January 9, 2024

GASB guidance expands risk-related reporting requirements

A new statement requires governments to disclose concentrations and constraints that could make them vulnerable to a substantial impact.

September 29, 2023

GASB addresses disclosure and classification of capital assets

GASB issued a proposal that would establish requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures, allowing users to make informed decisions about these and to evaluate accountability.

July 10, 2023

GASB provides guidance on application of standards

GASB has issued implementation guidance in the form of questions and answers, that is intended to clarify a series of the board’s pronouncements.

April 27, 2023

How the Financial Accounting Foundation plans to strengthen oversight

The organization’s latest effort provide a more convenient way for stakeholders with questions about due process in standard-setting to voice their concerns.

February 27, 2023

FAF debuts enhanced access to online accounting standards

The Financial Accounting Foundation released its free, enhanced online access to the FASB Accounting Standards Codification and the GASB Governmental Accounting Research System.

February 6, 2023

GASB proposes implementation guidance on subscription-based IT arrangements

GASB issued a proposed implementation guidance that is intended to clarify, explain, or elaborate on existing guidance on subscription-based information technology arrangements.

November 21, 2022

FAF publishes new strategic plan

The Financial Accounting Foundation released its new strategic plan, which outlines the strategic goals that the organization will address over the next several years.

November 15, 2022

GASB proposes new implementation guidance

GASB issues proposed implementation guidance in the form of questions and answers intended to clarify, explain, or elaborate on certain pronouncements.

July 7, 2022

GASB issues enhanced concepts for notes to financial statements

The GASB issued a concepts statement to guide the board when establishing note disclosure requirements for state and local governments — part of its response to research reexamining existing note disclosure requirements.

June 30, 2022

GASB issues proposal requiring disclosure of certain governmental risks

Stakeholders can comment on the GASB’s draft of a proposal that would require governments to disclose information that could affect their level of services or their ability to meet obligations as they come due.

June 16, 2022

GASB streamlines guidance on compensated absences with unified model

The GASB updates the model for compensated absences to enhance recognition and measurement requirements and simplify disclosure requirements.

June 13, 2022

GASB guidance focuses on improving, clarifying standards for accounting changes

GASB issued guidance designed to improve the accounting and financial reporting requirements for accounting changes and error corrections.

May 10, 2022

GASB addresses range of practice issues in statement

In an omnibus statement, the GASB issued guidance and clarifications on numerous accounting and financial reporting issues.

January 6, 2022

GASB to consider governmental going concern standards

GASB has decided to undertake a major project on accounting and financial reporting for going concern uncertainties and severe financial stress.

July 20, 2021

GASB revises proposed approach to financial statement notes

GASB issued a revised proposal that describes concepts that would guide the board when it establishes requirements for notes to financial statements for state and local governments.