The Governmental Accounting Standards Board has released a new Implementation Guide with questions and answers about GASB’s new standards on accounting and financial reporting for post-employment benefits other than pensions, such as retiree health care.
Implementation Guide No. 2017-3, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), answers a series of questions explaining the requirements of the standard, GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions.
The guide also deals with some issues related to another standard, Statement No. 74, Financial Reporting for Post-employment Benefit Plans Other Than Pension Plans. The free downloadable guide is available through GASB’s website. A print version will be available via the GASB Store in the weeks ahead.
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.