The Financial Accounting Foundation’s Board of Trustees, who oversee the Governmental Accounting Standards Board and the Financial Accounting Standards Board, has adopted a new policy clarifying the ...

The implementation of GASB Statements 87 and 96 has brought significant changes to how government entities report leases and subscription-based information technology arrangements. A thorough ...

Last year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to the many ...

Joel Levy’s tenure began on 1 June 2026 and will be completed on 31 December 2027.

"We had research that showed an omission rate of about 30% of things when we look at subsequent time periods and things we know happened," said GASB Chairman Joel in an interview with Accounting Today ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. David Kindness is a Certified Public Accountant (CPA) and an ...

GASB issued a new standard for state and local governments to apply when accounting for extinguishment of debt prior to its maturity. In Statement No. 86, Certain Debt Extinguishment Issues, GASB ...

GASB issued a proposed technical bulletin Thursday to assist state and local governments in their accounting for funds received as a result of the $2 trillion Coronavirus Aid, Relief, and Economic ...

Governments big and small, state and local, issue them every year. But is there anyone who actually considers even the most well written and stylized Comprehensive Annual Financial Report (CAFR) a ...

"This series of short videos is geared toward elected officials to help them understand in straightforward, layman's terms the information in each section of a government financial report as well as ...

The US Governmental Accounting Standards Board (GASB) is seeking feedback on a Discussion Memorandum on how generally accepted accounting principles (GAAP) for US state and local governments should be ...

The Governmental Accounting Standards Board issued GASB Statement No. 88 (the "Statement") in March 2018. The Statement requires increased disclosure in notes to financial statements of all state and ...