GASB

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.

The Governmental Accounting Standards Board is postponing the effective dates of many of its pronouncements and implementation guides for 12 to 18 months to provide some breathing room for accountants.

Accountants could use their experience and expertise to educate their elected officials and fellow citizens about their government’s financial condition.

The set of questions and answers explain how to implement and apply some of the board's recent pronouncements.

The Governmental Accounting Standards Board published guidance Monday to improve accounting and financial reporting for public-public partnership arrangements — also known as P3s — along with public-private and availability payment arrangements (APAs).

The Governmental Accounting Standards Board is proposing to delay the effective dates of provisions for all Statements and Implementation Guides by one year.

The Governmental Accounting Standards Board is working on several fronts to offer relief to state and local governments and other stakeholders in the midst of the pandemic, including delaying the effective date of some standards.

The Governmental Accounting Standards Board published guidance to help state and local governments transition move to newer reference rates that are less prone to market manipulation.

The Governmental Accounting Standards Board is considering delaying the effective dates of its standards and implementation guides because of the novel coronavirus pandemic.

The proposal involves how to define the criteria for the component units in pension plans and deferred compensation plans for state and local government employees.

The Financial Accounting Foundation, the group that oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, has named acting president John W. Auchincloss as the FAF’s executive director.

The board is looking for comment on a proposed concepts statement around the issue.