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 ...

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 Financial Accounting Foundation (FAF) on Tuesday issued a revised proposal describing a process that would decide which information GASB could consider for its standard setting for state and local ...

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 ...

GASB’s “Project 3-20: Recognition of Financial Statement Elements,” has seen its share of blowback from concerned parties. The concept would allow governments to continue their standard of cash-based ...

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 ...

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.

When public finance officers met this summer in Anaheim, their association's outgoing president kicked off the convention with an all-out assault on an accounting board. Thomas J. Glaser spent the ...

"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 ...