Journal Entries

This recurring website feature highlights articles from The GASB Report, the GASB’s monthly newsletter. The current article appeared in the January 2013 issue.

GASB Requests Input on Questions for Comprehensive Implementation Guide

The GASB staff is preparing the annual update of the Comprehensive Implementation Guide and is seeking input for new questions to include in the next edition. The Guide was developed to assist in the implementation and ongoing application of GASB pronouncements.

The 2012–2013 edition represents a consolidation of all previously issued guides—from the first guide on Statement No. 3, Deposits with Financial Institutions, Investments (including Repurchase Agreements), and Reverse Repurchase Agreements, through the guide on Statement No. 53, Accounting and Financial Reporting for Derivative Instruments. Annual updates to the Comprehensive Implementation Guide include changes to the original guides that result from new standards that are issued and answer additional questions that arise on standards that have not been the subject of an individual guide that the GASB believes have broad applicability and that clarify, explain, or elaborate on an underlying pronouncement (for example, Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions).

If you or your client has encountered an issue that you believe should be addressed in the 2013–2014 edition of the Guide, please send a description of the issue to Michelle Czerkawski at mlczerkawski@gasb.org by February 28. Please indicate in your email subject line that the question is a suggestion for the Comprehensive Implementation Guide.