GASB offers implementation guides
The Governmental Accounting Standards Board released a pair of implementation guides with questions and answers explaining several GASB standards.
Implementation Guide No. 2017-1, Implementation Guidance Update—2017, discusses a broad range of issues, including the standards on pensions, cash flow statements, financial reporting entities, investments, fund balances, external investment pools, and tax abatements. The guide also updates some of GASB’s previously issued implementation guidance.
Implementation Guide No. 2017-2, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, offers answers to more than 150 questions about Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. These plans, also known as other postemployment benefit plans, or OPEB plans, include areas such as retiree health care.
The guidance applies to state and local governments that follow U.S. GAAP when preparing their financials.