GASB Outlook

From the Chairman's Desk

In this column, I’d like to take a look ahead at some of the new projects that the GASB may consider taking up in the next 18 months. I’ll also address the role that pre-agenda research plays in the Board’s process of adding new projects to the current technical agenda.
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What You Need to Know:
Tax Abatement Disclosures

Tomorrow, the GASB will issue final guidance on disclosures regarding the tax abatements that governments grant to taxpayers within their jurisdiction. This guidance requires state and local governments to disclose key information about their tax abatement agreements that has never been widely available before.
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Spotlight on Fair Value:
Application of the Definition of an Investment

With implementation activities for GASB Statement No. 72, Fair Value Measurement and Application, now underway, the GASB is busy answering questions from stakeholders about several issues, including the new definition of an investment.
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  • From the Chairman's Desk
  • What You Need to Know:
    Tax Abatement Disclosures
  • Spotlight on Fair Value:
    Application of the Definition of an Investment

On the Horizon:
Fiduciary Responsibilities

In the fourth quarter of 2015, the GASB is expected to issue an Exposure Draft on financial reporting for fiduciary responsibilities. The project’s main objectives are to develop clear guidance establishing what fiduciary responsibility is, when it applies, and whether and how governments should report related activities in their financial statements.
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Coming Soon: Implementation Guide 2015-1

In the coming weeks, the GASB plans to issue Implementation Guide 2015-1, which sets forth all of the authoritative implementation guidance cleared by the Board for state and local governments to date. Watch the for more information.

GASB Meeting Topics (September 1-3, 2015)

GASB Calendar

Featured Video

GASB Chair Dave Vaudt
On Pensions & OPEB

Commentary by Alumni
at New York City Event