75 This standard, which will be applied retroactively, establishes a single model for the accounting of leases based on the principle that leases are financings of the right to use the underlying asset. Sec. For technical assistance regarding the Yellow Book, please call (202) 512-9535 or e-mail yellowbook@gao.gov. Our Governmental Accounting Standards Board (GASB) web application provides the information participating employers need in order to comply with accounting and financial reporting standards. GASB Statement No. The GASB’s new rules are effective for reporting periods beginning after December 15, 2019, with earlier application encouraged. 87, Leases 2 Accounting Standards Codification, Leases (Topic 842) ; International Financial Reporting Standard No. 68) requires such transfers to remain as originally recorded. 11. Purchase printed copies of the 2011 Yellow Book and 2018 Yellow Book online through the Government Publishing Office or by calling 202-512-1800 or 1-866-512-1800. 95, Postponement of the Effective Dates of Certain … March 2020. Implementation Guide No. 12 GASB Statements and Projects. Effective for fiscal years beginning January 1, 2020, a new approach for accounting and reporting leases will be required for state and local governments under GASB Statement 87, Leases. New Jersey GASB 67 Report as of June 30, 2019 Produced by Cheiron . June 2019. Implementation deadlines approach for significant accounting standards. Governmental Accounting Standards Board (GASB) Statements. The Governmental Accounting Standards Board (GASB) is an independent, nonprofit, non-governmental regulatory body charged with setting accounting and financial reporting standards for state and local governments.. GASB 74 & 75. On May 8, the GASB issued Statement No. Governmental Accounting Standards Board (GASB) Statements. GASB published a new implementation guide that answers questions about recently issued GASB standards on accounting and financial reporting for fiduciary activities. Employer OPEB & GASB New GASB 75 accounting standards impact the way OPEB plans are reported. Three of these four statements focus on debt, with an emphasis on disclosures, accounting for interest cost during a construction period (i.e., “capitalized interest”), and conduit debt: • GASB No. 13 GASB Statements and Projects GASB • New in FY19 •GASB Stmt. For technical assistance regarding the Yellow Book, please call (202) 512-9535 or e-mail yellowbook@gao.gov. GAO Contact. GASB has several new pronouncements that will be effective in the current year and future years: Fair Value. Mailing Address 1 GASB Statement No. 83 – Certain Asset ... Added new question to capture Apply the new principles in preparation and audits of FY 2018 financial statements. Adoption of new accounting standard—Add an emphasis -of-matter paragraph for consistency here if the County adopted a new GASB accounting standard during fiscal year 2019 and the implementation of the new standard had a material effect on the County’s financial statements/ disclosures (i.e., GASB 2019-2 – Fiduciary Activities 4.5 – A pension or OPEB plan that is administered through a trust that meets the criteria for a trust in GAAP does not have a governing board. 83 – Certain Asset ... Added new question to capture


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