9/28 Deadline to Comment on GASB Exposure Draft

Parties interested in submitting written comments on the Governmental Accounting Standards Board (GASB) Exposure Draft, Accounting and Financial Reporting for Nonexchange Financial Guarantee Transactions, should file comment letters by Friday, September 28, 2012.

The proposed Statement would require a state and local government guarantor that offers a non-exchange financial guarantee to another organization or government to recognize a liability on its financial statements when it is "more likely than not" that the guarantor will actually make a payment to the obligation holders under the agreement. It would also require note disclosures of the risks associated with those guarantees.
 
Individuals and organizations are urged to review the Exposure Draft and provide written comments by the September 28, 2012, deadline. Comments should be addressed to the Director of Research and Technical Activities, Project No. 19-18, and e-mailed to director@gasb.org or mailed to: 
 
Governmental Accounting Standards Board 
401 Merritt 7 
PO Box 5116 
Norwalk, CT 06856-5116
 
Related article:
 
Source: September 18, 2012, GASB Press Release
 

You may like these other stories...

The prospect of International Financial Reporting Standards (IFRS) being fully adopted in the United States in the near future are growing less likely, as the Financial Accounting Standards Board (FASB) and the International...
House proposes $10.5B, eight-month highway billThe House Ways and Means Committee proposed a transportation funding bill on Tuesday that calls for a temporary extension of current transportation funding levels until May 31,...
Event Date: July 17, 2014, 2 pm ETThis webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.Participants will learn:...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.