Government accounting

The Governmental Accounting Standards Board released implementation guidance to clarify, explain and elaborate on its GASB statements, using a series of questions and answers.

Joel Black talks about upcoming guidance to help state and local governments as they struggle to maintain enough revenue.

The Defense Department overstated the value of weapons sent by $2.6 billion in fiscal 2022 and $3.6 billion in fiscal 2023.

The pace of issuance and implementation of new GASB statements continues to accelerate.

The board is adding a major project on accounting and financial reporting for infrastructure assets to its technical agenda.

Isn't it reasonable to expect that state governments' financial reporting have full accountability and thus, receive clean audit reports? Often, they do not.

The International Public Sector Accounting Standards Board hopes to find common ground for government sustainability disclosures.

A new law promises to increase the accessibility of government financial information.

Richard Eckstrom told lawmakers he had unintentionally exaggerated the state's cash position by $3.5 billion.

A marked increase in staffing shortages at auditing firms has resulted in significant setbacks to complete issuers' financial disclosures, S&P said in a report.

The board released additional information to clarify earlier guidance on how to account for subscription-based technology for state and local governments.

Private companies in the U.S. are still adjusting to the standard that took effect last year, as international standard-setters are proposing new rules for the public sector.

While there are pension accounting standards, they allow plans to make more aggressive assumptions about how well they're funded than in the private sector.

The Governmental Accounting Standards Board issued proposed implementation guidance in the form of questions and answers to clarify different pronouncements.

A recent study found that when municipal governments are assigned a random auditor, versus one they appoint themselves, financial performance improves.

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

The Financial Accounting Standards Board is considering a change to address leases that are under the common control of related-party businesses.

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

When governments outsource efforts, they are bringing in a new set of eyes that can identify risks, compliance issues or human errors.

The Federal Accounting Standards Advisory Board is looking for volunteers to join a new task force it is forming on climate-related financial reporting.