The GASB offers three subscription plans that provide finance and accounting professionals and users of governmental financial information with the critical tools necessary for staying up-to-date on all the latest changes in governmental GAAP.
The GASB Subscription provides you with printed copies of new pronouncements as soon as they are issued, as well as the GASB’s monthly newsletter, The GASB Report. You also will receive notification when Exposure Drafts, discussion documents, and selected research reports are released. Stay ahead of the curve with access to the current information a GASB Subscription provides.
The GASB Board Package gives you the inside scoop on GASB projects by delivering the full complement of public materials provided to the Board members for their deliberations. You will receive the materials on a convenient CD-ROM that is mailed shortly after each Board meeting.
The Governmental Accounting Research System (GARS) on CD-ROM provides ready access to all the necessary governmental accounting literature on your personal computer or in a stand-alone network configuration. GARS has been demonstrated to significantly reduce research time.
Call (800) 748-0659 or visit www.gasb.org and click on GASB Store to order.
Wednesday, May 20, 2009
GASB Adds Projects to Its Current and Research Agendas
In April, GASB Chairman Robert H. Attmore added a number of new projects to the Board’s current and research agendas. The changes to the technical plan were made in part based on feedback from the Governmental Accounting Standards Advisory Council (GASAC). The GASAC reviewed the GASB’s research projects and potential projects list at its meeting in March and provided input on which projects they considered the highest priorities.
Two practice issues addressing (1) the codification of pre-November 30, 1989, FASB pronouncements that apply to governments and (2) implementation issues relating to other postemployment benefits (OPEB), were moved from the research agenda to the current agenda. In addition, two projects were added to the research agenda addressing demand bonds and government combinations and spin-offs. All four of these projects were rated as high-priority by the GASAC.
Codification of Pre-November 30, 1989 FASB Pronouncements
The objective of this project is to identify specific provisions in Financial Accounting Standards Board (FASB) Statements and Interpretations, Accounting Principles Board Opinions, and Accounting Research Bulletins of the AICPA Committee on Accounting Procedure, issued on or before November 30, 1989, that do not conflict with or contradict GASB pronouncements. The GASB will incorporate those provisions into its own literature. An expert group that will provide the Board technical feedback has been formed, and deliberations are scheduled to begin in July.
OPEB Implementation Issues
The objective of this project is to consider whether to modify certain requirements related to the measurement of actuarial liabilities for OPEB by agent employers. This project includes consideration of (1) the timing and frequency of the measurement of actuarial liabilities for OPEB by agent employers and (2) the guidelines regarding use of the alternative measurement method by agent employers with small individual OPEB plans. Project deliberations began in May and an Exposure Draft should be issued at the end of June.
Demand Bonds—Interpretation 1 Reexamination
The objective of this project is to evaluate the effectiveness of GASB Interpretation No. 1, Demand Bonds Issued by State and Local Governmental Entities, in terms of whether the standards continue to address the relevant accounting and reporting issues and meet the information needs of financial statement users. Interpretation 1, which was issued in December 1984, addresses the classification—either short-term or long-term—of demand bonds. The major issues to be discussed are whether Interpretation 1 can effectively be applied in the current economic environment and whether the accounting and disclosures required by the Interpretation continue to provide decision useful information.
Government Combinations and Spin-offs
The primary objective of this project is to consider the financial reporting requirements when governmental entities are combined through annexation, consolidation, acquisition, or other means. This project will include an analysis of government combinations that have taken place in both the general governmental area (city/county consolidations and consolidated school districts, for example) and the business-type activities area (healthcare organizations, for example). In addition, the project will address certain devolution or ”spin-off” issues.
Additional information about these projects is available on the GASB’s website at www.gasb.org in the Project Pages section.
Two practice issues addressing (1) the codification of pre-November 30, 1989, FASB pronouncements that apply to governments and (2) implementation issues relating to other postemployment benefits (OPEB), were moved from the research agenda to the current agenda. In addition, two projects were added to the research agenda addressing demand bonds and government combinations and spin-offs. All four of these projects were rated as high-priority by the GASAC.
Codification of Pre-November 30, 1989 FASB Pronouncements
The objective of this project is to identify specific provisions in Financial Accounting Standards Board (FASB) Statements and Interpretations, Accounting Principles Board Opinions, and Accounting Research Bulletins of the AICPA Committee on Accounting Procedure, issued on or before November 30, 1989, that do not conflict with or contradict GASB pronouncements. The GASB will incorporate those provisions into its own literature. An expert group that will provide the Board technical feedback has been formed, and deliberations are scheduled to begin in July.
OPEB Implementation Issues
The objective of this project is to consider whether to modify certain requirements related to the measurement of actuarial liabilities for OPEB by agent employers. This project includes consideration of (1) the timing and frequency of the measurement of actuarial liabilities for OPEB by agent employers and (2) the guidelines regarding use of the alternative measurement method by agent employers with small individual OPEB plans. Project deliberations began in May and an Exposure Draft should be issued at the end of June.
Demand Bonds—Interpretation 1 Reexamination
The objective of this project is to evaluate the effectiveness of GASB Interpretation No. 1, Demand Bonds Issued by State and Local Governmental Entities, in terms of whether the standards continue to address the relevant accounting and reporting issues and meet the information needs of financial statement users. Interpretation 1, which was issued in December 1984, addresses the classification—either short-term or long-term—of demand bonds. The major issues to be discussed are whether Interpretation 1 can effectively be applied in the current economic environment and whether the accounting and disclosures required by the Interpretation continue to provide decision useful information.
Government Combinations and Spin-offs
The primary objective of this project is to consider the financial reporting requirements when governmental entities are combined through annexation, consolidation, acquisition, or other means. This project will include an analysis of government combinations that have taken place in both the general governmental area (city/county consolidations and consolidated school districts, for example) and the business-type activities area (healthcare organizations, for example). In addition, the project will address certain devolution or ”spin-off” issues.
Additional information about these projects is available on the GASB’s website at www.gasb.org in the Project Pages section.
Thursday, May 14, 2009
Technical Inquiries? Check this out...
If anyone is searching for a question that you think GASB could answer, see its website at www.gasb.org.
By clicking on the "Technical Inquiries" button on the left side menu, you will be able to send an email to GASB staff members directly.
The website also shows the status of current GASB projects and effective dates of GASB statements. The questions posed to GASB could also include an interpretation of an accounting standard.
By clicking on the "Technical Inquiries" button on the left side menu, you will be able to send an email to GASB staff members directly.
The website also shows the status of current GASB projects and effective dates of GASB statements. The questions posed to GASB could also include an interpretation of an accounting standard.
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