United States

GASB proposes implementation guidance


The Governmental Accounting Standards Board (GASB) recently issued an Exposure Draft, Implementation Guide No. 20XX-X, Implementation Guidance Update – 20XX, to provide guidance intended to clarify, explain or elaborate on recent standards. The proposed implementation guide focuses on questions that have been raised related to new GASB standards on pensions, retiree healthcare benefits and fair value reporting. The proposed guide also addresses a wide array of practice issues on other topics that have been brought to the GASB’s attention. 

The proposed implementation guide supersedes and amends certain questions in Implementation Guide 2015-1 and provides new questions and answers that were not presented in Implementation Guide 2015-1. If finalized, the requirements of the proposed implementation guide will be effective for reporting periods beginning after June 15, 2016. The Exposure Draft is available for comment until November 30, 2015.