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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June 11, 2021
In Comments, NACUBO Disagrees with GASB’s Compensated Absence Proposal
Proposed liabilities for nonvested sick leave do not meet the definition of a liability, NACUBO recently wrote to the Governmental Accounting Standards Board.Read More →
May 07, 2021
AICPA Addresses Federal COVID Relief Programs and SEFA Reporting
The AICPA Governmental Audit Quality Center released revised guidance for SEFA reporting in light of federal rule changes for certain pandemic relief aid, such as the Higher Education Emergency Relief Fund.Read More →
April 16, 2021
NACUBO Issues HEERF Program Grants Accounting Tutorial
The new tutorial provides HEERF I, II, and III background and revenue recognition guidance under FASB and GASB standards.Read More →
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