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.