The User's Perspective—December 2011

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The GASB’s Preliminary Views on Financial Projections  
The GASB recently issued a Preliminary Views presenting the Board’s initial thinking on what it believes are the key issues related to reporting financial projections. This reporting is meant to assist users of governmental financial information with assessing a government’s financial health. This article provides an overview of the main issues raised in the document and the potential implications for users.

imageThe newly updated and revised edition of What You Should Know about Your Local Government’s Finances is now available for purchase—visit the GASB Store to order. Other new guide editions will be available soon

Deferrals: What They Are and What the GASB Is Doing with Them  
Deferrals are inflows and outflows of resources that have already taken place but that are not ready to be recognized in the financial statements as revenues and expenses. This article examines the nature of deferrals, addresses why it is important that governments are reporting them, and highlights the GASB’s standards-setting in this area.
A Guide to Better Understanding GASB Statements  
Each of the Statements of Governmental Accounting Standards issued by the GASB since its establishment in 1984 is designed to provide taxpayers, legislators, municipal bond analysts, and others with information that is useful to their decision-making process regarding governmental entities. This article provides a primer on reading a GASB Statement by explaining the key elements that make up a Statement and describing what you can hope to learn by reading one.
Let your voice be heard...
  • Submit a comment on the Preliminary Views,  
    (Comment Deadline: March 16, 2012) 

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