Status of Implementation Guide No. 2021-1, Implementation Guidance Update—2021
Issued: May 2021
Effective date:
The requirements of this Implementation Guide are effective as follows:
- Questions 4.1–4.3, 4.23, and 5.2–5.4 and the supersession of Questions Z.51.4–Z.51.7 in Implementation Guide No. 2015-1 for reporting periods beginning after June 15, 2022
- Questions 4.4–4.21 for fiscal years beginning after June 15, 2022, and all reporting periods thereafter
- Question 4.22 for fiscal years beginning after June 15, 2021
- Question 5.1 for reporting periods beginning after June 15, 2023.
Affects:
- Will supersede GASBIG 2015-1, QZ.51.4–QZ.51.7
- Will amend GASBIG 2015-1, Q7.9.8, Q7.33.5, and Q7.55.3
- Will amend GASBIG 2019-1, Q4.9
- No other pronouncements
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 |