FASAB

GASB

GASB readies further standards under new chairman

The Governmental Accounting Standards Board is working on developing new standards for state and local governments to use under its new chair, Joel Black, while responding to the novel coronavirus pandemic.

By Michael Cohn

August 17

GASB chairman Joel Black (bottom) with FASAB chairman George Scott (top right) and AICPA senior director of governmental auditing and accounting Mary Foelster (top left) at the AICPA Governmental Accounting and Auditing Update Conference

Government accounting

FASAB issues guidance on loss allowance for receivables

A new technical bulletin aims to clarify the loss allowance standards for AR and related recognition standards and reporting.

By Michael Cohn

February 21

The Lincoln Memorial, from left, Washington Monument and U.S. Capitol at sunset in Washington, D.C.

Accounting standards

Companies still behind schedule on lease accounting standards

Only 26.3 percent of public company execs say their implementation of the lease accounting standard is complete, according to a new survey by Deloitte.

By Michael Cohn

September 16

FASB, GASB and FAF logos on the wall at headquarters in Norwalk, Connecticut

Accounting standards

FASAB proposes clarification on loss allowance for intragovernmental receivables

The Federal Accounting Standards Advisory Board staff released an exposure draft of a technical bulletin that would clarify the existing standards for loss allowances.

By Michael Cohn

September 5