GASB

The Governmental Accounting Standards Board is circulating a pair of exposure drafts proposing accounting and financial reporting guidance pertaining to the capitalization of interest cost along with a proposed Implementation Guide discussing a variety of topics.

The Governmental Accounting Standards Board proposed guidance Thursday to clarify how to account for a state or local government’s majority equity interest in organizations that stay legally separate after the acquisition, such as a public hospital buying a rehabilitation center that remains legally separate.

The Governmental Accounting Standards Board has proposed new guidance to clarify debt-related disclosures in notes to financial statements, including disclosures pertaining to direct borrowings and direct placements, for state and local governments.

The Governmental Accounting Standards Board released guidance Wednesday to create a single approach to accounting for and reporting state and local government leases.

Grant Thornton International taps CEO-elect; Mazars USA and Marks Paneth add partners; and other personnel news from firms across the country.

The Financial Accounting Foundation’s board of trustees has named Jeffrey Previdi, a current member of the Governmental Accounting Standards Board, as vice chairman of GASB.

The Governmental Accounting Standards Board has issued guidance for state and local governments to use when they extinguish debt before it matures.

The Governmental Accounting Standards Board released a pair of implementation guides with questions and answers explaining several GASB standards.

The Governmental Accounting Standards Board has released an “omnibus” statement providing guidance on a wide range of accounting and financial reporting issues that have been uncovered during the implementation and application of some of GASB’s earlier pronouncements for state and local governments.

The Governmental Accounting Standards Board has published guidance on when liabilities to beneficiaries should be recognized.