Like the Financial Accounting Standards Board’s leasing standard, the GASB version will also put operating leases on the balance sheet for the first time for many entities. “The ASC 842 standard, ...

GASB Statement no. 54, Fund Balance Reporting and Governmental ... The information can be displayed on the face of the balance sheet, or only aggregate amounts can be reported with the constraints ...

New financial reporting standards for pensions of U.S. state and local governments are among the most significant rules GASB has ever approved. The standards will place unfunded pension liabilities on ...

While finance leases would be capitalized on the balance sheet, operating leases would be reported in the footnotes. However, the Governmental Accounting Standards Board’s Statement No. 87 (or GASB 87 ...

GASB's imposition of full-accrual accounting ... do not generate revenues are not accounted for on a government's balance sheet, which is reserved for financial resources. The general government ...

Now, local governments have to produce balance sheets that account for the full projected costs of these unfunded mandates over a 30-year period. GASB has no power to enforce Statement 45, but as the ...

today issued GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions. Statement 54 is intended to improve the usefulness of information provided to financial report ...

In addition, new accounting rules (ASC 842, IFRS 16 and GASB 87) that require leases to be listed as liabilities on balance sheets create added risks and opportunities across all industries.

which differ from GASB reports, include a balance sheet, income statement, statement of cash flows and a statement of stockholders equity. These statements also have different notes and ...

The GASB released the proposed guidance Wednesday ... and are not reported on the statement of net assets on balance sheets," saidFinden. "The disclosures we're seeing are inconsistent, and ...