Proposals
Implementation guidance update
On Nov. 27, 2018, the GASB issued an exposure draft, “Implementation Guidance Update – 2019,” to clarify, explain, or elaborate on certain GASB pronouncements.
The exposure draft proposes 15 new questions and answers to address application of existing GASB standards covering various topics including the following:
- Cash flows reporting
- Postemployment benefits – plan and employer
- Derivative instruments
- Nonexchange transactions
- Impairment of capital assets and insurance recoveries
- Intra-entity transfers of assets
- Fund balance reporting and government fund type definitions
- Tax abatement disclosures
- Irrevocable split-interest agreements
In addition, the exposure draft proposes amendments to four previously issued questions and answers from Implementation Guides 2015-1 and 2017-2.
Comments are due to the GASB by Jan. 31, 2019.