United States

GASB proposes implementation guidance


The Governmental Accounting Standards Board (GASB) recently issued an Exposure Draft, Implementation Guide No. 201X-Y, Implementation Guidance Update – 201X, to provide guidance intended to clarify, explain or elaborate on recent standards. The proposed implementation guide addresses a wide array of practice issues, including questions related to standards on pensions, cash flow statements, the financial reporting entity, certain investments, external investment pools, fund balance and tax abatements.

If finalized, the requirements of the proposed implementation guide will be effective for reporting periods beginning after June 15, 2017. The Exposure Draft is available for comment until January 31, 2017.