NACUBO Accounting Advisory Reports reflect prevailing preferred industry practice.
GASB's New Standard Covers Asset Retirement Obligations
January 05, 2017
In an effort to standardize financial reporting when laws govern how certain assets are retired from use, the Governmental Accounting Standards Board issued Statement No. 83, "Certain Asset Retirement Obligations," in December. The new standard is effective in FY19 for public institutions.
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July 24, 2019
GASB Proposal Updates Section 457 Plan Guidance
A new exposure draft attempts to clarify that Section 457 deferred compensation plans meet the definition of a pension plan and thus may have pension accounting and financial reporting requirements. Comments are due September 27.Read More →
June 20, 2019
GASB Issues Fiduciary Activities Implementation Guide
The Governmental Accounting Standards Board has issued a new Implementation Guide to assist with implementing Statement No. 84.Read More →
June 20, 2019
GASB Seeks Assistance to Evaluate Compensated Absences
The Governmental Accounting Standards Board is asking financial statement preparers to take a short survey on compensated absences to help inform their pre-agenda research.Read More →
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