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Financial Reporting Insights

OMB issues 2016 Compliance Supplement

At the end of July, the Office of Management and Budget issued the long-awaited <i>2016 Compliance Supplement</i>.


Financial Reporting Insights

GASB issues guidance addressing pension issues

The GASB recently issued guidance addressing practice issues raised during implementation of its pension accounting and financial reporting standards.



Financial Reporting Insights

GASB Implementation Guide No. 2016-1

The GASB has issued an implementation guide that primarily addresses questions regarding certain of its recently issued standards.


Financial Reporting Insights

2015 Effective Date Reminder

Our Effective Date Reminder lists pronouncements issued as of Nov.1, 2015, which became effective on or after Jan. 1, 2015 or are not yet effective.


Financial Reporting Insights

GASB survey of financial statement preparers

Governments are invited to participate in a GASB survey regarding activities related to preparing and publishing an audited annual financial report.


Financial Reporting Insights

GASB Implementation Guide No. 2015-1

GASB Implementation Guide No. 2015-1 provides guidance that clarifies, explains or elaborates on GASB Statements and Interpretations.


Financial Reporting Insights

Tax abatement disclosures

GASB Statement No. 77 requires disclosure of certain tax abatement information.



Financial Reporting Insights

GASB revises GAAP hierarchy

GASB Statement 76 simplifies the hierarchy of generally accepted accounting principles for state and local governments.