United States

GASB releases implementation guidance

FINANCIAL REPORTING INSIGHTS  | 

The Governmental Accounting Standards Board (GASB) recently issued Implementation Guide No. 2018-1, Implementation Guidance Update – 2018, to provide guidance that clarifies, explains or elaborates on recent GASB Statements. The implementation guide addresses a wide array of practice issues, including questions related to standards on pensions and other postemployment benefits, the statistical section, tax abatement disclosures, certain investments and cash flows reporting, among others.

The requirements of the implementation guide are effective for reporting periods beginning after June 15, 2018.