New General Implementation Guide Issued by GASB

The Governmental Accounting Standards Board (GASB) has issued an implementation guide to help state and local government personnel adopt and apply several recent GASB standards.

The guide, released in April 2019, addresses new questions on several areas including postemployment benefits, nonexchange transactions, tax abatement disclosures, irrevocable split-interest agreements, derivative instruments and more.

The requirements of this implementation guide are effective for reporting periods beginning after June 14, 2019. We also recommend contacting James Moore’s government CPAs to see how these requirements affect your government entity.

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