The User's Perspective—December 2013

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Reexamining the Blueprint for Financial Reports
This past summer, the Board voted unanimously to add a reexamination of the financial reporting model—the blueprint that lays out the structure and content of a state or local government’s financial report—to the pre-agenda research portion of its technical plan. This article provides a brief overview of the GASB’s thinking behind this decision, describes what the Board is hoping to learn through its research, and looks at potential implications for users of financial statements.

 

 

A Plain-English Guide to Deferrals
This article takes a plain-English approach to explaining deferred outflows of resources and deferred inflows of resources (for the sake of simplicity, “deferrals”) and examines why it is important that governments clearly identify them in the financial statements.


 
GASB Project Update
This article summarizes major projects on the GASB’s technical agenda that are currently being deliberated by the Board and addresses their potential implications for financial statement users. Major projects are those that may result in significant changes to current accounting and financial reporting standards or the establishment of significant new standards.
 
   
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