GASB Outlook

From the Chairman's Desk

GASB Chair Dave Vaudt looks ahead to major project goals for 2015, including finalizing proposed standards on retiree health care benefits, a potential re-examination of the financial reporting model, and the new project on external investment pools.
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What You Need to Know:
Fair Value Measurement and Application

Fair value refers to the measurement of assets and liabilities—primarily investments—at the estimated price they would bring in the current market. The GASB soon will issue guidance that harmonizes terms with the FASB and brings clarity to areas of uncertainty.
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Research Update:
The Financial Reporting Model

In 2015, the GASB expects to conclude its most important pre-agenda research project: a potential re-examination of the financial reporting model. This article will bring you up to speed on where things stand and what’s coming up.
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  • From the Chairman's Desk
  • What You Need to Know:
    Fair Value Measurement and Application
  • Research Update:
    The Financial Reporting Model

On the Horizon

This issue’s On the Horizon focuses on the Board’s efforts to educate and assist stakeholders in understanding its new pension standards and forthcoming guidance on retiree health care benefits.
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Spotlight On...

GAAP

This educational portal highlights the benefits of preparing financial reports according to GAAP and how GAAP is essential to the functioning of our capital markets, economy, and governments.


Strategic Plan

The FAF, FASB, and GASB strategic plan affirms that our mission is to establish and improve financial accounting and reporting standards to provide useful information, and educate stakeholders on how to understand and implement those standards.


Added to Agenda: External Investment Pools

The GASB recently added a project on external investment pools to its current technical agenda. These investment pools function much like money market funds do in the private sector. The GASB will consider what effects changes recently adopted by the Securities and Exchange Commission (SEC) might have on financial reporting requirements for external investment pools operated by governments and whether existing standards need to be revised.



Practice Fellow Program


A unique opportunity: The GASB Practice Fellow Program

Featured Video


Who's Who Interview
With GASB Project Manager
Jialan Su



GASB Calendar