Summaries / Status

Status of Statement No. 6
Accounting and Financial Reporting for Special Assessments

Status

Issued: January 1987

Effective Date: Financial statements for periods beginning after June 15, 1987

Affects:

  • Amends NCGAS 1 regarding the use of special assessment funds (principle 3 and ¶18, ¶20, ¶25-28, ¶30, and ¶90)
  • Amends NCGAS 1 regarding long-term assets and liabilities resulting from and interest related to special assessment debt (principles 5 and 8; ¶19, ¶32, ¶42, ¶43, ¶46, ¶57, ¶68, ¶72, ¶73, ¶107, ¶108, ¶161; and fn14 of ¶68)
  • Amends NCGAS 1, ¶63
  • Amends NCGAS 1, ¶109
  • Amends NCGAS 2, ¶5 and ¶6
  • Amends NCGAS 5, ¶6
  • Amends NCGAI 6, ¶5
  • Supersedes AICPA SOP 75-3, ¶7

Affected by:

  • Paragraphs 13 amended by GASBS 34, ¶6
  • Paragraphs 14 amended by GASBS 33, ¶7-¶14, ¶17, ¶18, and fn18 and by GASBS 34, ¶6, ¶15, and ¶16
  • Paragraph 15 amended by GASBS 33, ¶7-¶14, ¶17, ¶18, and fn18 and by GASBS 34, ¶15, ¶16, ¶80, ¶82, and ¶92
  • Paragraph 17 amended by GASBS 34, ¶15, ¶30, and ¶82
  • Paragraph 19 amended by GASBS 34, ¶16, ¶50, ¶80, and ¶106
  • Paragraph 23 amended by GASBS 33, ¶7-¶14, ¶17, ¶18, and fn18 and by GASBS 34, ¶92, ¶100, and ¶103
  • Paragraph 24 amended by GASBS 14, ¶13
  • Paragraph 25 superseded by GASBS 44, ¶3

Primary Codification Section Reference: S40


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