Proposals
Implementation guidance update
On Dec. 4, 2019, the GASB issued an exposure draft, “Implementation Guidance Update – 2020,” to clarify, explain, or elaborate on certain GASB pronouncements.
The exposure draft proposes 23 new questions and answers to address application of existing GASB standards covering various topics including the following:
- The financial reporting entity
- Accounting and financial reporting for certain investments and for external investment pools
- Fiduciary activities
- Leases
- Certain asset retirement obligations
- Conduit debt obligations
In addition, the exposure draft proposes amendments to five previously issued questions and answers from Implementation Guides 2015-1, 2017-2, and 2017-3.
Comments are due to the GASB by Jan. 31, 2020