ED Releases Limited Guidance on CARES Act Reporting and Extends FISAP and EADA Deadlines
As institutions eagerly await further CARES Act reporting guidance, the Department of Education shared some – but not much – information on quarterly reporting requirements.
GASB Seeks Revenue and Expense Field Testers
Public institutions are able to participate in a field test of the proposed standards in the recently released Preliminary Views, Revenue and Expense Recognition. This is an opportunity to work closely with GASB staff and influence final guidance.
GASB Exposure Draft Tackles the Financial Reporting Model
A final proposal culminating GASB’s seven-year reexamination of its landmark Statement No. 34 has been released. The most significant changes for public institutions are new MD&A requirements and an income (or loss) indicator after appropriations.