New implementation guidance issued by the GASB is designed to clarify, explain or elaborate on state and local government accounting standards.
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GASB Accounting Requirements
How to handle GASB implementation challenges
State and local government finance staffs have had to implement several new, significant GASB statements. Here are tips for handling the challenges.
GASB proposes changes to debt disclosures
The information about debt disclosed by state and local governments would change if a new GASB proposal is approved.
GASB issues rules for accounting for certain debt extinguishment
Statement No. 86 applies in certain situations involving an irrevocable trust.
GASB establishes new approach for reporting leases
GASB issued a statement that is designed to help align the accounting and financial reporting of lease transactions more closely with their economic substance.
GASB addresses wide range of accounting issues
GASB issued a new statement that addresses a wide range of accounting issues that have challenged state and local government financial statement preparers.
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.
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 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.
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.
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.
GASB addresses pension accounting practice issues
GASB issued guidance to address practice issues encountered during implementation of its new pension accounting rules for state and local governments.
Proposal would change governments’ lease approaches
GASB proposes a principle for reporting.
GASB issues accounting guidance for irrevocable split-interest agreements
GASB issued recognition and measurement guidance that aims to lead to more consistent accounting for irrevocable split-interest agreements.
GASB implementation guidance addresses issues with recent standards
GASB issued implementation guidance that is intended to clarify, explain, or elaborate on recent standards issued for state and local government financial reporting.
GASB moves to reduce confusion for external investment pools
A new standard preserves the amortized cost accounting option.
GASB moves to reduce confusion for external investment pools
Many state and local government external investment pools—and participants in those pools—will continue to qualify for amortized cost accounting under new guidance from GASB.
GASB proposes pension standards relief for certain governments
Some governments with multiple-employer defined benefit pension plans have found it difficult to comply with GASB’s new pension accounting standards.
GASB to take a fundamental look at financial statements
The Governmental Accounting Standards Board will review the foundation of the financial reporting model for state and local governments.
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