GASB Releases Preliminary Views Document Related to Disclosures About Severe Financial Stress and Dissolution

The GASB has released a preliminary views document that requests feedback on the ramifications associated with disclosures about severe financial stress (SFS) and probable dissolution (PD). The proposed guidance “would separate financial stress and continued existence into two distinct concepts and clarify the circumstances under which disclosures are required, resulting in more consistent and comparable information.”

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