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. You can read the complete guidance document here; we also recommend contacting James Moore’s government CPAs to see how these requirements affect your government entity.
All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a James Moore professional. James Moore will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.