GASB Issues Implementation Guide on Recent Pronouncements April 24, 2020 The GASB has issued Implementation Guide No. 2020-1, Implementation Guidance Update — 2020, which consists of Q&As that “clarify, explain, or elaborate on” certain GASB Statements. Topics addressed in the guide’s Q&As include: Financial reporting entities. Fiduciary activities. Leases. Conduit debt obligations. Asset retirement obligations. External investment pools. In addition, the implementation guide amends certain Q&As from previously issued implementation guides. It is effective for reporting periods beginning after June 15, 2021, or December 15, 2021. For more information, see the press release on the GASB’s Web site.