The Financial Accounting Foundation’s Board of Trustees, who oversee the Governmental Accounting Standards Board and the Financial Accounting Standards Board, has adopted a new policy clarifying the ...

The implementation of GASB Statements 87 and 96 has brought significant changes to how government entities report leases and subscription-based information technology arrangements. A thorough ...

Last year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to the many ...

GASB proposed guidance Monday that is designed to promote uniformity in state and local government accounting for the early extinguishment of debt. The exposure draft, Certain Debt Extinguishment ...

The Financial Accounting Foundation has abandoned its tradition of selecting a state auditor to chair the Governmental Accounting Standards Board by picking a private sector accountant to serve the ...

New lease accounting standards will dramatically affect the way governmental entities record leases on their financial statements. The Governmental Accounting Standards Board Statement Number 87(GASB ...

1. What is GASB 77 and why does it exist? GASB 77 is an accounting pronouncement applicable to the financial statements of state and local governments. In order for their financial statements to be ...

GASB issued guidance Monday designed to improve the accounting and financial reporting requirements for accounting changes and error corrections. GASB Statement No ...

My recent article, “Puerto Rico Illustrates Need For New Public Employee Pension Disclosures,” argued that any rescue Puerto Rico rescue bill passed by Congress needs to include the provisions of Rep.

"We had research that showed an omission rate of about 30% of things when we look at subsequent time periods and things we know happened," said GASB Chairman Joel in an interview with Accounting Today ...

The Governmental Accounting Standards Board issued GASB Statement No. 88 (the "Statement") in March 2018. The Statement requires increased disclosure in notes to financial statements of all state and ...

NORWALK, Conn.--(BUSINESS WIRE)--The Governmental Accounting Standards Board (GASB) today issued a final Statement that simplifies the structure of the hierarchy of Generally Accepted Accounting ...