GASB

The Governmental Accounting Standards Board released a proposed concepts statement to guide GASB when establishing note disclosure requirements for state and local governments.

The exposure draft covers various accounting and financial reporting issues that were identified during implementation, application, and due process on GASB standards.

The recent leasing rules from the Financial Accounting Standards Board and the Governmental Accounting Standards Board are turning out to be harder to follow than many organizations expected.

The board released updated implementation guidance for its leases standard, along with other accounting standards for state and local governments.

Capital gains at death; ounces of prevention; extremely dark money; and other highlights from our favorite tax bloggers.

The Governmental Accounting Standards Board issued a proposal to improve the accounting and financial reporting requirements for state and local governments.

The foundation’s annual report highlights the boards’ efforts to support stakeholders in the pandemic.

The board proposed changing “comprehensive annual financial report” to “annual comprehensive financial report” because the abbreviation sounds like a racist term in South Africa.

The Governmental Accounting Standards Board is looking for feedback on a proposal to improve the guidance on compensated absences for state and local government employees, along with disclosure requirements.

To the detriment of many state and local governments, budget decisions are being made based on bad accounting information.