Status of Statement No. 32

Summaries / Status

Status of Statement No. 32
Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—a rescission of GASB Statement No. 2 and an amendment of GASB Statement No. 31

Status


Issued: October 1997

Effective Date:

    For periods beginning after December 31, 1998 or when plan assets are held in trust under the requirements of IRC Section 457, subsection (g), if sooner

Affects:

  • Supersedes GASBS 2
  • Amends GASBS 31, ¶2 and ¶4

Affected by:

  • Paragraph 4 amended by GASBS 34, ¶69, ¶70, and ¶106
  • Paragraph 6 amended by GASBS 34, ¶6

Other Interpretive Literature:

    GASB Comprehensive Implementation Guide

Primary Codification Section Reference: D25



Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
BFC - Basis For Conclusions
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
SOP - AICPA Statements of Position
ASLGU - AICPA Audit Guide
GASB Q&A - GASB Implementation Guides