The Governmental Accounting Standards Board (GASB) has approved a new standard intended to improve accounting and financial reporting for US state and local governments' combinations and disposals of government operations. Government combinations include mergers, acquisitions, and transfers of operations. A disposal of government operations can occur through a transfer to another government or a sale.

• Determining whether a specific government combination is a government merger, a government acquisition, or a transfer of operations.
• Using carrying values (generally, the amounts recognized in the pre-combination financial statements of the combining governments or operations) to measure the assets, deferred outflows of resources, liabilities, and deferred inflows of resources combined in a government merger or transfer of operations.
• Measuring acquired assets, deferred outflows of resources, liabilities, and deferred inflows of resources based on their acquisition values in a government acquisition.
• Reporting the disposal of government operations that have been transferred or sold.