Project Pages

Implementation Guidance Update—2023
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GASB Exposure Draft:
Implementation Guidance
Update—2023

Project Description: The objective of this project is to update implementation guidance for additional issues that come to the attention of the staff. This project will result in the issuance of an Implementation Guide when sufficient need exists for new or improved guidance and the Board does not object to its issuance. All updates are incorporated into the Codification of Governmental Accounting and Financial Reporting Standards and the Comprehensive Implementation Guide, as appropriate.

Status: Initial Deliberations

Implementation Guidance Update—2023—Project Plan


Background: New implementation guidance is considered annually and may result in the addition of new questions and answers or revision of existing questions and answers.

Project History:
  • 2021 Implementation Guidance Update cleared for issuance: May 2021
  • Consultative group appointed? No
  • Deliberations on 2023 Implementation Guidance Update began: July 2022
Current Developments: Developed proposals to be considered for inclusion in an Exposure Draft of a proposed Implementation Guide (2023 update).

Work Plan:
 
Board Meetings Topics to Be Considered
November 2022–January 2023 Comment period. Analyze respondent feedback.
March 13, 2023 Redeliberate issues based on respondent feedback.
April 24, 2023 Review a preballot draft of a final Implementation Guide.
June 5, 2023 Review a ballot draft of a final Implementation Guide and consider for clearance.
 

Implementation Guidance Update—2023—Recent Minutes


Minutes of Meeting, October 31, 2022

The Board reviewed a ballot draft of an Exposure Draft of a proposed Implementation Guide, Implementation Guidance Update—2023. The Board unanimously voted not to object to the issuance of an Exposure Draft of a proposed Implementation Guide.

Minutes of Meeting, September 12, 2022

The Board reviewed a preballot draft of an Exposure Draft of an Implementation Guide, Implementation Guidance Update—2023. As part of its review, the Board considered the addition of (1) a proposed new question and answer related to perpetual licenses in the context of Statement No. 96, Subscription-Based Information Technology Arrangements, and (2) a proposed amendment to Question 4.16 in Implementation Guide No. 2019-3, Leases, intended to resolve a terminology issue related to the phrase cancellable periods. The Board also considered proposed effective date and transition provisions.

The Board did not object to project staff presenting a ballot draft of an Exposure Draft at the October Board meeting. 

Minutes of Meeting, August 1, 2022

The Board reviewed staff proposals for new questions and answers and an amendment to an existing question and answer for inclusion in an implementation guidance update. The Board suggested clarifying edits to certain proposals and, with consideration of those suggestions, tentatively did not object to incorporating the following staff proposals into the next implementation guidance update:
  • New questions and answers related to short-term leases
  • New questions and answers related to lessee and lessor recognition and measurement for leases other than short-term leases and contracts that transfer ownership
  • A new question and answer related to the subscription term for subscription-based information technology arrangements
  • A new question and answer related to changes to or within the financial reporting entity as described in Statement No. 100, Accounting Changes and Error Corrections.
The staff also proposed amendments to Question Z.54.30 in Implementation Guide No. 2015-1 to clarify circumstances in which special revenue funds are required by Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions. After discussion with the Board, it was tentatively decided not to amend to Question Z.54.30 in Implementation Guide 2015-1.
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