Governmental Accounting Standards Board (GASB)

The Governmental Accounting Standards Board (GASB) is the independent organization that establishes and improves standards of accounting and financial reporting for U.S. state and local governments.

Website: www.gasb.org

 

 

Select news releases

Registration Opens for CPE Webinar IN FOCUS: GASB Preliminary Views, Financial Reporting Model Improvements

Registration is now open for an upcoming webinar that will provide an overview of the GASB’s recently issued Preliminary Views, Financial Reporting Model Improvements. The PV is intended to elicit feedback from stakeholders on the Board’s current thinking regarding targeted improvements to the financial reporting model.

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GASB issues proposals designed to improve government financial reports and establish recognition concepts

The GASB issued a Preliminary Views proposing improvements to key components of the financial reporting model. In a separate, related document, the Board also proposed new concepts intended to guide the Board in developing standards on recognition in financial statements.

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GASB Proposes Improvements to Reporting of Conduit Debt Obligations

The Governmental Accounting Standards Board (GASB) has proposed revised guidance that would provide a single method for government issuers to report conduit debt obligations and related obligations. This proposed guidance would eliminate diversity in practice associated with these issues.

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GASB Establishes New Guidance for Interest Cost Incurred Before the End of a Construction Period

Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period, establishes guidance designed to enhance the relevance and comparability of information about capital assets and the cost of borrowing for a reporting period. It also simplifies accounting for interest cost incurred before the end of a construction period.

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Final rules

See the GASB's website for a copy of each GASB Statement.

 

 

Proposed rules

GASB exposure draft - Conduit debt obligations

The primary objectives of this proposed Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated with addition commitments extended by issuers, arrangements associated with conduit debt obligations, and related not disclosures.

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