The Governmental Accounting Standards Board has released guidance in the form of questions and answers to help state and local governments apply its standards.
The latest guide also includes amendments to some previously issued implementation guidance. Its requirements are effective for reporting periods starting after June 15, 2019, though GASB is encouraging early application for guidance related to standards that already have been implemented.
The guide is
Making use of refunds; playing defense; how to use thin air; and other highlights of recent tax cases.
New FICPA chair begins tenure; Blue & Co. opens new office in Chattanooga; and more news from across the profession.
House Republicans passed the wide-ranging Trump tax legislation dubbed the One Big Beautiful Bill Act, overcoming resistance from a group of GOP holdouts and united opposition from Democrats.
Plus, FileAI announces V2 platform launch; Foxit launches PDF and Document Workflow APIs; and other accounting tech updates.
The American Institute of CPAs' Auditing Standards Board is looking for feedback on a proposed standard updating auditors' responsibilities related to fraud.
The jobs report beat expectations, while the unemployment rate dipped one-tenth of a percentage point to 4.1%.
