GASB

The financial industry veteran will be overseeing the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

The Governmental Accounting Standards Board has appointed a new task force to help GASB deal with going concern uncertainties and severe financial stress disclosures.

Complexity causes the data to be unclear, and even obsolete by the time it is reported.

The board proposed requirements for governments to disclose information about risks that could affect the level of services they’re able to offer or their ability to meet obligations.

The Governmental Accounting Standards Board released new guidance to provide a unified accounting treatment for compensated absences of state and local government employees and simplify the disclosure work.

The board released guidance Monday to improve the accounting and financial reporting requirements for state and local governments.

The board of trustees released a draft strategic plan Tuesday and is asking for input.

The board issued guidance Monday to address different accounting and financial reporting issues it identified.

Governmental Accounting Standards Board chair Joel Black has plans as GASB prepares to issue new standards on compensated absences, accounting changes and error corrections, while also weighing issues like digital assets, electronic financial reporting and subsequent events.

The Governmental Accounting Standards Board set the effective date for the GASB 87 leases standard at June 15, 2021, after pushing it back by 18 months during the pandemic, but many state and local governments are apparently behind on implementing it.