Status of Implementation Guide No. 2020-1

Implementation Guide No. 2020-1, Implementation Guidance Update—2020


Issued: April 2020

Effective date:

The requirements of this Implementation Guide are effective as follows:

  • Questions 4.1–4.5, 4.18, and 5.3 for reporting periods beginning after June 15, 2021
  • Questions 4.6–4.17 for fiscal years beginning after December 15, 2021, and all reporting periods thereafter
  • Questions 4.19–4.21 for reporting periods beginning after December 15, 2021
  • The provisions of paragraph 6 are effective immediately.
Earlier application is encouraged if the pronouncement addressed by the question and answer has been implemented.

Affects:

  • Amends GASBIG 2015-1, Q4.9.1, Q5.61.1, Q5.117.1, and Q6.43.1
  • Amends GASBIG 2017-1, Q5.7 and Q5.20
  • Amends GASBIG 2017-2, Q4.9
  • Amends GASBIG 2017-3, Q4.8
  • Amends GASBIG 2019-2, ¶6
Affected by:

  • Paragraph 6 superseded by GASBS 97
Primary Codification Sections: Throughout

Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
GASBIG - GASB Implementation Guides		 NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
AICPA SOP - AICPA Statements of Position
AICPA ASLGU - AICPA Audit Guide (1974)
BFC - Basis For Conclusions

STANDARDS & GUIDANCE

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