GASB Statement No. 42

A&A

Issues Persist With GASB Standard on Impairment of Capital Assets

A review team recently concluded that accounting guidance for governments on capital asset impairments and insurance recoveries does provide pertinent information to financial statement users but does not resolve all issues underlying its purpose.
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.

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