GASB issued an implementation guide that is designed to assist state and local government financial personnel, Implementation Guide Update -2019. Included in the guide are:
- Derivative instruments
- Disaster-related, expenditure driven grants
- Irrevocable split-interest agreements
- Post-employment benefits
- Tax abatement disclosures
- Transfers of capital assets within a financial reporting entity
It also includes amendments to previously issued implementation guidance.
VACo Contact: Vicky Steinruck, CPA