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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September 20, 2019
NACUBO Responds to GASB on Public-Private Partnerships
In comments to the Governmental Accounting Standards Board on public-private and public-public partnership arrangements, NACUBO agreed with GASB’s proposed consistent application of its “right of use” accounting methodology.Read More →
September 09, 2019
ED Shares Preliminary Final Borrower Defense Rules
ED announced its intention to finalize sweeping changes to the current borrower defense rules, which include revisions to financial responsibility composite score calculations. Although the rules have not yet been finalized, the regulations relating to financial responsibility will be available for immediate implementation as soon as they are published in the Federal Register.Read More →
September 06, 2019
NACUBO Responds to GASB on Technology Subscriptions
In comments to the Governmental Accounting Standards Board on subscription-based information technology arrangements, NACUBO agreed with the proposed recognition methodology but questioned disclosures and transition guidance.Read More →
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