Status of Statement No. 99

STATEMENT NO. 99
OMNIBUS 2022


Status

Issued: April 2022

Effective date:

The requirements of this Statement are effective as follows:

  • The requirements in paragraphs 26–32 related to extension of the use of LIBOR, accounting for SNAP distributions, disclosures of nonmonetary transactions, pledges of future revenues by pledging governments, clarification of certain provisions in Statement 34, as amended, and terminology updates related to Statement 53 and Statement 63 are effective upon issuance.
  • The requirements in paragraphs 11–25 related to leases, PPPs, and SBITAs are effective for fiscal years beginning after June 15, 2022, and all reporting periods thereafter.
  • The requirements in paragraphs 4–10 related to financial guarantees and the classification and reporting of derivative instruments within the scope of Statement 53 are effective for fiscal years beginning after June 15, 2023, and all reporting periods thereafter.
Earlier application is encouraged and is permitted by topic.

Affects:

  • Amends GASBS 10, ¶49, ¶56, and ¶130
  • Supersedes GASBS 24, ¶6 and fn3–fn5
  • Will supersede GASBS 62, ¶109, ¶110, and fn43
  • Amends GASBS 24, ¶2, ¶3, and ¶16
  • Amends GASBS 30, ¶6
  • Amends GASBS 33, ¶5
  • Amends GASBS 34, ¶6, ¶13, and fn23
  • Amends GASBS 53, ¶20, ¶23, ¶25, ¶35, and fn7
  • Will amend GASBS 53, ¶12, ¶20, ¶23, ¶25, and ¶69
  • Will supersede GASBS 62, ¶109, ¶110, and fn43
  • Amends GASBS 62, ¶280, ¶485, and fn228
  • Will amend GASBS 62, ¶98 and ¶99
  • Will amend GASBS 72, ¶80
  • Amends GASBS 87, ¶16, ¶22, ¶26, ¶28, ¶45, ¶50, and ¶61
  • Amends GASBS 93, ¶11
  • Amends GASBS 94, ¶10, ¶28, ¶45, and ¶47
  • Amends GASBS 96, ¶9, ¶21, and ¶23
  • Amends GASBI 1, ¶11
  • Amends GASBIG 2015-1, Q7.34.4 and Q10.13.7
  • Will amend GASBIG 2015-1, Q1.65.5, Q10.13.6, Q10.15.3, Q10.15.6, Q10.16.4, Q10.16.5, and Q10.18.1–Q10.18.4
  • Amends GASBIG 2016-1, Q4.7 and Q5.15
  • Will amend GASBIG 2016-1, Q4.7 and Q4.67
  • Will amend GASBIG 2019-1, Q4.6
  • Amends GASBIG 2019-3, Q4.13, Q4.14, Q4.19, Q4.28, Q4.29, Q4.34, and Q4.46–Q4.48
Affected by: No other pronouncements

Primary Codification Section References: Throughout

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

STANDARDS & GUIDANCE

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