GASB

A&A

GASB Sets Guidelines for Measuring Assets and Liabilities

The Governmental Accounting Standards Board on Monday defined two approaches for measuring assets and liabilities, intended to guide the standard-setting organization in establishing accounting and financial reporting standards for state and local governments.
A&A

Pension Accounting Standard Stays on Course: GASB

The implementation of a pension accounting standard for state and local governments is still on schedule, after the Governmental Accounting Standards Board last week decided not to delay the timetable of when the new pension guidelines take effect.
A&A

New GASB Toolkit Provides Resources on Pensions

A new online pension implementation toolkit from the Governmental Accounting Standards Board (GASB) supplies preparers, auditors, and users of state and local governmental financial reports with numerous resources on pension accounting and financial reporting standards.
A&A

New GAAP Hierarchy for State and Local Governments Urged by the GASB

A proposal made by the Governmental Accounting Standards Board (GASB) last week would give state and local governments new guidance to follow under US Generally Accepted Accounting Principles (GAAP) when preparing financial statements.
A&A

FAF Adopts Policy on GASB Scope of Authority

The FAF finalized a new policy on November 19 that provides the GASB with direction on what information it may incorporate into the financial accounting and reporting concepts, standards, and guidance that it issues state and local governments.
A&A

GASB Annual Bound Editions Updated by FAF

An updated print edition of the Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards was released by the GASB's parent organization, the FAF, on November 5.
A&A

GASB to Offer Webcasts of Public Board Meetings

On October 8, one week after launching a new updated website, the GASB said it will provide live video webcasting of its in-person public meetings, beginning with the October 30-31 meeting.
A&A

GASB Launches New User-Friendly Website

The GASB launched an updated website on September 30 that features more user-friendly navigation and "plain English" resources that provide information on accounting and financial reporting issues for state and local governments.
A&A

Registration Open for September 5 Webcast: Overview of GASB Proposals for Financial Statement Users

Registration is now open for the upcoming Governmental Accounting Standards Board (GASB) webcast IN FOCUS: Overview of GASB Proposals for Financial Statement Users. This live webcast, offered free of charge, will take place on September 5.
A&A

Two GASB Insurance-Related Standards Receive Good Review

A post-implementation review of two accounting standards that were established to improve the consistency and comparability of reporting US state and local governments' insurance activities concluded that the standards achieve their purposes.
A&A

FAF Proposal Clarifies GASB's Standard-Setting Authority

Citing stakeholder concerns that trustees of the Financial Accounting Foundation were "stepping into the standard-setting role" of the GASB, the FAF on August 20 issued for comment a revised proposal to clarify the characteristics of information that the GASB may incorporate into the financial accounting and reporting concepts, standards, and guidance that it issues for state and local governments.
A&A

FAF to Conduct Post-Implementation Review on GASB Standard

A post-implementation review will be conducted on a GASB accounting and financial reporting standard for state and local governments regarding the impairment of capital assets and insurance recoveries.
A&A

GASB Proposal Looks to Ease Transition to Pension Standards

The Governmental Accounting Standards Board (GASB) on July 2 issued for public comment a proposed statement on the transition provisions of GASB's new pension standards for state and local governments.
A&A

Statements Regarding Retirement of FASB's Seidman and GASB's Attmore

The FAF and the AICPA released the following statements regarding the retirement on June 30 of Financial Accounting Standards Board (FASB) Chairman Leslie F. Seidman and Governmental Accounting Standards Board (GASB) Chairman Robert H. Attmore.
A&A

GASB Seeks Public Input on Two Measurement Concept Proposals

The GASB is seeking public comment on a proposed concepts statement it issued on June 20 that would guide the GASB when establishing standards regarding the measurement of assets and liabilities for state and local governments.
A&A

Financial Accounting Foundation Names David A. Vaudt Chairman of GASB

On April 4, 2013, Iowa Auditor of State David A. Vaudt was named as the next chairman of the Governmental Accounting Standards Board (GASB), effective July 1, 2013.
A&A

FASB to Join IFRS Foundation's Accounting Standards Advisory Forum

The Financial Accounting Standards Board (FASB) will join the newly formed Accounting Standards Advisory Forum (ASAF), an advisory group that will help the International Accounting Standards Board (IASB) set international accounting standards, the Financial Accounting Foundation (FAF) announced.
A&A

GASB Offers Governmental Accounting Research System Online Platform

The Governmental Accounting Standards Board (GASB) has launched a new Governmental Accounting Research SystemT (GARS) platform – GARS Online. Previously, GARS was available only on CD-ROM.
A&A

GASB Approves New Standard

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.
A&A

9/28 Deadline to Comment on GASB Exposure Draft

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

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