The Governmental Accounting Standards Board proposed on Wednesday to postpone the effective dates of provisions in virtually all Statements and Implementation Guides — due to be implemented by state and local governments for fiscal years 2019 and later — due to the ongoing coronavirus pandemic.
The
- Statement No. 83, Certain Asset Retirement Obligations
- Statement No. 84, Fiduciary Activities
- Statement No. 87, Leases
- Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements
- Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period
- Statement No. 90, Majority Equity Interests
- Statement No. 91, Conduit Debt Obligations
- Statement No. 92, Omnibus 2020, paragraphs 6–10 and 12
- Statement No. 93, Replacement of Interbank Offered Rates, paragraphs 13 and 14
- Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), Questions 4.85, 4.103, 4.108, 4.109, 4.225, 4.239, 4.244, 4.245, 4.484, 4.491, and 5.1–5.4
- Implementation Guide No. 2018-1, Implementation Guidance Update—2018
- Implementation Guide No. 2019-1, Implementation Guidance Update—2019
- Implementation Guide No. 2019-2, Fiduciary Activities
- Implementation Guide No. 2019-3, Leases
GASB did not propose a postponement of the other provisions of Statement 93 or Statement No. 94, "Public-Private and Public-Public Partnerships and Availability Payment Arrangements," since the coronavirus pandemic was factored into the effective dates for these pronouncements.
GASB stated that it is working under an expedited schedule to issue this guidance as quickly as possible. The Exposure Draft is available on GASB's
GASB has additionally provided a number of coronavirus-related resources for stakeholders, available on its website
