Government accounting

The board released guidance Monday to improve the accounting and financial reporting requirements for state and local governments.

The International Public Sector Accounting Standards Board issued a consultation paper on natural resources on Monday to consider various issues relating to recognition, measurement and presentation of natural resources by public sector entities.

The Federal Accounting Standards Advisory Board is looking for feedback on an exposure draft of a proposed set of technical clarifications and amendments on lease accounting for the federal government.

The board issued guidance Monday to address different accounting and financial reporting issues it identified.

Governmental Accounting Standards Board chair Joel Black has plans as GASB prepares to issue new standards on compensated absences, accounting changes and error corrections, while also weighing issues like digital assets, electronic financial reporting and subsequent events.

The board released an exposure draft of a proposed standard for multi-employer retirement plan obligations.

The Governmental Accounting Standards Board set the effective date for the GASB 87 leases standard at June 15, 2021, after pushing it back by 18 months during the pandemic, but many state and local governments are apparently behind on implementing it.

The International Federation of Accountants teamed up with the Institute of Chartered Accountants on the latest installment of an educational series.

The Top 30 Firm is expanding its local, state and federal government client base, effective March 31.

The Governmental Accounting Standards Board is adding a major project on going concern uncertainties and severe financial stress to its technical plan for the first third of this year.

The Federal Accounting Standards Advisory Board released an interpretation of the accounting rules around reporting debt cancellation for the federal government.

The board is changing the term Comprehensive Annual Financial Report because the abbreviation is often pronounced the same way as a derogatory term.

Government budgets are prepared with “wild, wild west” accounting rules.

The Federal Accounting Standards Advisory Board released a standard for accounting and financial reporting on government-owned land and delayed the effective date due to the pandemic.

The Governmental Accounting Standards Board released a proposed concepts statement to guide GASB when establishing note disclosure requirements for state and local governments.

The exposure draft covers various accounting and financial reporting issues that were identified during implementation, application, and due process on GASB standards.

The board released updated implementation guidance for its leases standard, along with other accounting standards for state and local governments.

The Governmental Accounting Standards Board issued a proposal to improve the accounting and financial reporting requirements for state and local governments.

The international board released four proposals for improving various aspects of government accounting.

The board proposed changing “comprehensive annual financial report” to “annual comprehensive financial report” because the abbreviation sounds like a racist term in South Africa.