GASB has issued proposed implementation guidance to provide state and local government financial statement preparers with questions and answers designed to clarify, explain or elaborate on the board’s standards.
Implementation Guidance Update-2019 proposes answers to such topics as:
- Cash flow reporting
- Post-employment benefits
- Derivative instruments
- Irrevocable split-interest agreements
- Tax-abatement disclosures
Amendments to previously issued implementation guidance are also proposed in the exposure draft.
VACo Contact: Vicky Steinruck, CPA