The Governmental Accounting Standards Board has released implementation guidance with questions and answers to explain and elaborate on some of its recent standards.
Implementation Guide No. 2018-1, Implementation Guidance Update–2018, includes information about how to apply GASB’s recent standards on pensions, other post-employment benefits, the statistical section, regulatory reporting, and tax abatement disclosures. The Implementation Guide also has amendments to some of GASB’s previously issued implementation guidance on some related topics.
The requirements of the new implementation guide take effect for reporting periods starting after June 15, 2018. The guide can be downloaded for free from GASB’s website.
The government could collect up to $1.5 billion more in tax revenue over five years if pipe tobacco and roll-your-own tobacco were taxed the same as cigarettes.
The Public Company Accounting Oversight Board is accepting nominations for members of its Investor Advisory Group and Standards and Emerging Issues Advisory Group.
The Internal Revenue Service and the Treasury issued a notice saying they intend to issue proposed regulations withdrawing the DPL rules for multinationals.
Half of Generation Z interns expect 20% of their jobs to be automated by artificial intelligence by the time they start full-time roles, per a KPMG survey.