GASB Proposes Amendments to Guidance on Accounting Changes and Error Corrections
GASB Proposes Amendments to Guidance on Accounting Changes and Error
June 1, 2021
The GASB has issued an exposure draft (ED), Accounting Changes and Error
Corrections, that would amend Statement No. 62, Codification of
Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989
FASB and AICPA Pronouncements. The purpose of the proposed guidance would be
to “lead to information that is easier to understand, more reliable, relevant,
consistent, and comparable across governments for making decisions and assessing
accountability.” Comments on the ED are due by August 31, 2021.
For more information, see the press release on the GASB’s Web site.