The Governmental Accounting Standards Board has approved a new standard intended to improve accounting and financial reporting for state and local governments’ combinations and disposals of government operations. 

GASB Statement No. 69, “Government Combinations and Disposals of Government Operations,” provides guidance for determining whether a specific government combination is a government merger, a government acquisition, or a transfer of operations. The standard also offers guidance on using carrying values (generally, the amounts recognized in the pre-combination financial statements of the combining governments or operations) to measure the assets, deferred outflows of resources, liabilities, and deferred inflows of resources combined in a government merger or transfer of operations .

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