Pronouncements

Summaries / Status

Status of Statement No. 42
Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries


Status

Issued: November 2003 

Effective Date:

    For periods beginning after December 15, 2004

Affects:
  • Amends GASBS 34, ¶19 and ¶21

Affected by:

  • Paragraph 1 will be amended by GASBS 63
  • Footnote 2 will be amended by GASBS 62
  • Paragraphs 9 amended by GASBS 51, ¶18
  • Paragraph 16 amended by GASBS 51, ¶18
  • Paragraph 17 will be amended by GASBS 62 and GASBS 63
  • Paragraph 18 amended by GASBS 51, ¶18

Other Interpretive Literature:

    GASB Comprehensive Implementation Guide

Primary Codification Section Reference: 1400
 

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