GASB Publishes Proposal on Disclosure and Classification of Certain Assets

The GASB has released for public comment an exposure draft, Disclosure and Classification of Certain Capital Assets. Specifically, the proposal “would establish requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures.” Such assets would include:

• “Capital assets held for sale, by major class of asset.”
• “Lease assets reported under Statement 87, by major class of underlying asset.”
• “Subscription assets reported under Statement 96.”
• “Intangible assets other than leases assets and subscription assets, by major class of assets.”

For more information, see the press release on the GASB’s Web site.