GASB Publishes Implementation Guidance on Lease Accounting

Posted: August 16, 2019

The Governmental Accounting Standards Board has issued an Implementation Guide that contains questions and answers about the GASB’s new standards on accounting and financial reporting for leases.

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Now is the Time to Become Familiar with the New Yellow Book

Posted: August 6, 2019

The 2018 Yellow Book is effective for financial audits for periods ending on or after June 30, 2020. However, that does not mean that auditors can wait until 2020 to become familiar with the new standards.

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GASB Proposes Omnibus Statement Addressing Wide Range of Practice Issues

Posted: July 9, 2019

The Governmental Accounting Standards Board has proposed guidance addressing various accounting and financial reporting issues identified during the implementation and application of certain GASB pronouncements.

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GASB Proposes Guidance on Deferred Compensation Plans

Posted: July 1, 2019

The exposure draft proposes that if a Section 457 plan meets the definition of a pension plan in GASB guidance, the appropriate GASB pension standards should be applied to the financial reporting for that plan and for the benefits provided through that plan.

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GASB Issues Implementation Guide on Fiduciary Activities

Posted: June 19, 2019

Implementation Guide No. 2019-2, Fiduciary Activities, answers many questions about how to apply the provisions of GASB Statement No. 84, Fiduciary Activities.

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GASB Proposes Guidance on Public-Private and Public-Public Partnership Arrangements

Posted: June 17, 2019

The Exposure Draft provides proposed guidance for PPP arrangements that are outside of the scope of its existing literature for these transactions. The proposed Statement also would make certain improvements to the guidance currently included in Statement 60 and provide accounting and financial reporting guidance for APAs.

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GASB Invites Governments to Provide Feedback About Implementation

Posted: June 4, 2019

The Governmental Accounting Standards Board is inviting governments to participate in a new process for collecting information about the effort and costs associated with implementing major new pronouncements.

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GASB Proposes Guidance on Cloud Computing and Similar Subscription-Based IT Arrangements

Posted: May 22, 2019

The exposure draft would apply many of the provisions of Statement No. 87, Leases, to subscription-based transactions.

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GASB Provides Guidance on Implementation and Application of Various Pronouncements

Posted: May 7, 2019

The Governmental Accounting Standards Board has issued question-and-answer guidance intended to clarify, explain or elaborate on the implementation and application of certain GASB statements.

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Yellow Book Meets Yellow Cake and All Sorts of Delicious Changes

Posted: October 23, 2018

The Government Accountability Office's Government Auditing Standards have been revised. Key changes were made to the format, auditor independence rules and CPE guidance.

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