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GASB Proposes to Significantly Improve Pension Reporting
The GASB’s June 2011 Exposure Drafts in the pension accounting and financial reporting project separately address accounting and financial reporting for the pension benefits governments provide their employees and financial reporting for the plans that administer those benefits. This article provides an overview of the main issues in the proposals and the potential implications for users of financial statements. |
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New Editions of the GASB’s User Guide Series Coming Soon
The GASB’s user guide series, which introduces the financial reports of state and local governments to a broad nonaccountant audience, is currently being revised and updated for publication later this year. This article previews highlights of the changes in the new 2011 editions. |
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GASB Changes the Appearance of Governmental Financial Statements
GASB Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and the Statement of Net Position, which was issued in July, changes how governments will organize their statements of financial position. This article describes the key provisions and the implications for users of financial statements. |
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Financial Guarantees Projects To Provide Clear and Consistent Guidance
GASB research indicates that numerous types of state and local governmental entities issue and receive financial guarantees. This article provides an overview of the financial guarantees project that was added to the GASB’s current technical agenda earlier this year, including information on the project objective, the nature of financial guarantees, and key issues the Board is due to consider. |
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