On February 6th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that would expound on existing guidance related to subscription-based information technology arrangements (SBITAs). The Exposure Draft, Additional Proposal for Implementation Guidance Update—2023, focuses on whether the definition of a cloud computing arrangement is comparable to that of an SBITA, as defined in GASB Statement No. 96, Subscription-Based Information Technology Arrangements. Continue reading "GASB Introduces Proposed Guidance to Facilitate..." »

On November 15th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that uses a questions and answers format to clarify and expound on certain GASB pronouncements. Continue reading "GASB Proposes Guidance to Help Stakeholders..." »

In December 2021, the Governmental Accounting Standards Board (GASB) voted to approve pre-agenda research activity on subsequent events as part of its technical plan for the first third of 2022. The GASB also approved the addition of a major project focusing on “going concern” uncertainties and severe financial stress. An entity is a “going concern” if it is able to continue operating long enough to carry out its commitments, obligations, and objectives. The GASB is investigating how “going concern” states are influenced by severe financial distress. Continue reading "GASB Adds Pre-Agenda Research Activity and..." »