United States

GASB proposes implementation guidance


The Governmental Accounting Standards Board (GASB) recently issued an Exposure Draft, Implementation Guidance Update – 2019, to provide guidance that clarifies, explains or elaborates on recent GASB Statements. The proposed implementation guide addresses a wide array of practice issues, including questions related to the application of standards on cash flows reporting, postemployment benefits, derivative instruments, irrevocable split-interest agreements, and tax abatement disclosures, among others.

If finalized, the requirements of the proposed implementation guide will be effective for reporting periods beginning after June 15, 2019. The Exposure Draft is available for comment until January 31, 2019.