GASB proposes guidance for subscription-based IT arrangements
GASB proposed guidance for state and local government accounting for subscription-based information technology arrangements.
Governmental
New GASB guide assists with implementation
A new implementation guide issued by the Governmental Accounting Standards Board can assist state and local governments as they adopt certain GASB statements.
FASAB proposes eliminating RSSI, updating lease references
References to leases in three statements would change.
GASB issues proposed lease accounting implementation guide
GASB issued a proposed implementation guide that is designed to help state and local governments understand the board's new standard on lease accounting.
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 proposes eliminating RSSI, updating lease references
FASAB has proposed eliminating the required supplementary stewardship information (RSSI) category and updating references to leases in multiple places in its accounting standards for federal government entities.
GASB issues proposed lease accounting implementation guide
GASB issued a proposed implementation guide that is designed to help state and local governments understand the board’s new standard on lease accounting.
GASB proposes implementation guidance
Q&As would address application of many topics.
GASB proposes implementation guide for fiduciary activities standard
GASB published a proposed implementation guide that provides questions and answers about the board’s new standards for state and local government accounting and financial reporting for fiduciary activities.
GASB proposes targeted improvements, new concepts
The aim is to make financial reporting more useful for decision-making.
GASB proposes implementation guidance
GASB issued a proposal that would provide implementation guidance for certain state and local government accounting standards.
Awards recognize outstanding CPAs in government
Deborah Loveless and Kathryn Belfi receive awards.
FASAB committee proposal would withdraw inter-entity cost guidance
Lease accounting rules for federal entities also were clarified.
GASB clarifies majority equity interest reporting rules
The statement divides interests into investments and component units.
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.
GASB proposes new rules for reporting conduit debt obligations
Variation in practice was a concern under existing rules.
GASB proposes targeted improvements, new concepts
GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.
GASB clarifies majority equity interest reporting rules
Clarifying guidance issued by GASB explains that state and local governments are required to consider the definition of an acquisition in their accounting for majority equity interest in an organization.
GAO issues revised government auditing standards
Changes to the Yellow Book reinforce the principles of transparency and accountability.
Proposal would withdraw inter-entity cost guidance
A new Federal Accounting Standards Advisory Board proposal is designed to eliminate inconsistencies in the board’s guidance for federal entities’ accounting for inter-entity costs.
