GASB Issues Implementation Guide on Certain Pronouncements
June 2, 2021
The GASB has issued Implementation Guide No. 2021-1, Implementation Guidance
Update — 2021, which consists of Q&As that “clarify, explain, or
elaborate on” certain GASB Statements.
Topics addressed in the guide’s Q&As include:
- Derivative instruments.
- Fiduciary activities.
- Leases.
- Nonexchange transactions.
In addition, the implementation guide amends certain Q&As from previously issued
implementation guides.
For more information, see the press release on the GASB’s Web site.