GASB PROPOSES NEW IMPLEMENTATION GUIDANCE TO ASSIST STAKEHOLDERS WITH APPLICATION OF ITS PRONOUNCEMENTS

Norwalk, CT, November 27, 2018—The Governmental Accounting Standards Board (GASB) today proposed implementation guidance containing questions and answers intended to clarify, explain, or elaborate on certain GASB pronouncements.

The Exposure Draft, Implementation Guidance Update—2019, proposes new questions and answers to address application of the Board’s standards on cash flows reporting, postemployment benefits, derivative instruments, irrevocable split-interest agreements, tax abatement disclosures, and other topics. The Exposure Draft also proposes amendments to previously issued implementation guidance.
 
The Exposure Draft is available on the GASB website, www.gasb.org. Stakeholders are encouraged to review the proposal and provide comments by January 31, 2019.