Status of Statement No. 32

Summaries / Status

Status of Statement No. 32
Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—a rescission of GASB Statement No. 2 and an amendment of GASB Statement No. 31


Status


Issued: October 1997

Effective Date:

  • For periods beginning after December 31, 1998 or when plan assets are held in trust under the requirements of IRC Section 457, subsection (g), if sooner

Affects:

  • Supersedes GASBS 2
  • Amends GASBS 31, ¶2 and ¶4

Affected by:

  • Paragraph 4 amended by GASBS 34, ¶69, ¶70, and ¶106; superseded by GASBS 84, ¶14
  • Paragraph 5 will be superseded by GASBS 97, ¶6 and ¶8
  • Paragraph 6 amended by GASBS 34, ¶6; will be superseded by GASBS 97, ¶6 and ¶8

Other Interpretive Literature:

  • GASBIG 2016-1
Primary Codification Section Reference: D25
 

Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
GASBIG - GASB Implementation Guides
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
AICPA SOP - AICPA Statements of Position

AICPA ASLGU - AICPA Audit Guide (1974)
BFC - Basis For Conclusions