GASB

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.

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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.

The exposure draft covers leases, fiduciary activities and other topics.

The Governmental Accounting Standards Board is giving state and local governments extra time to implement its new leases standard because of the coronavirus pandemic, and they will need it.

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.

The Governmental Accounting Standards Board is proposing a set of improvements in how state and local governments report on their financial condition.

The Governmental Accounting Standards Board released a technical bulletin with guidance for applying existing GASB standards to transactions related to the CARES Act and outflows incurred in response to the COVID-19 pandemic.

The Financial Accounting Standards Board and the Governmental Accounting Standards Board are under new chairmen Wednesday after their long-serving leaders completed their second terms.

When Joel Black succeeds David Vaudt as chair on July 1, none of the board's seven members will have served as a state auditor or treasurer.

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The Governmental Accounting Standards Board issued guidance Tuesday to improve the reporting of Section 457 deferred compensation plans for state and local government employees.

The Governmental Accounting Standards Board released a proposed technical bulletin Thursday from its staff with application guidance on the CARES Act and outflows incurred by state and local governments in response to the COVID-19 pandemic.

The Governmental Accounting Standards Board published accounting and financial reporting guidance on subscription-based information technology arrangements.

The Financial Accounting Foundation’s board of trustees is changing the process for assessing the effectiveness of standards.