GASB PROPOSES IMPLEMENTATION GUIDANCE
DESIGNED
TO CLARIFY RECENT PRONOUNCEMENTS
Norwalk, CT, September
30, 2015—The Governmental Accounting Standards Board (GASB) today
issued a proposed
Implementation Guide containing questions and answers intended to clarify,
explain, or elaborate on recent GASB Statements.
The proposed
implementation guide focuses on questions that have been raised related to
GASB’s new standards on pensions, retiree healthcare benefits, and fair value
reporting. The proposed guide also addresses a wide array of practice issues on
other topics that have been brought to the GASB’s attention. The Exposure Draft
of Implementation Guide No. 20XX-X, Implementation Guidance
Update—20XX, is available on the GASB website, www.gasb.org. Stakeholders
are encouraged to review and provide comments by November 30,
2015.
About the Governmental Accounting Standards
Board
Established in 1984, the GASB is the independent,
private-sector organization based in Norwalk, Connecticut, that establishes
accounting and financial reporting standards for U.S. state and local
governments that follow Generally Accepted Accounting Principles (GAAP). These
standards are recognized as authoritative by state and local governments, state
Boards of Accountancy, and the American Institute of CPAs (AICPA). The GASB
develops and issues accounting standards through a transparent and inclusive
process intended to promote financial reporting that provides useful information
to taxpayers, public officials, investors, and others who use financial reports.
The Financial Accounting Foundation (FAF) supports and oversees the GASB. For
more information, visit http://www.gasb.org/.