The Governmental Accounting Standards Board is juggling a variety of projects to improve accounting for state and local governments as they come under pressure from the threat of reduced funding from ...

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 ...

When it comes to achieving and maintaining compliance with GASB 87, there’s no time to waste. The requirements are nuanced and point toward a new method of lease accounting.

Under the GASB rules that were in place through 2013, known as Statements 25 and 27, a public employee pension plan valued its future benefit liabilities by “discounting” them at the rate of ...

GASB GASB critics want more transparency for public pensions and other retirement benefits By Brian Tumulty April 09, 2021, 2:33 p.m. EDT 6 Min Read ...

The discount rate rule, known as GASB 67, is just part of the story. Another piece of the new rule, GASB 68, will hit financial statements starting later this year.

The proposal represents the first time FAF has purported to have jurisdiction over what GASB chooses to research and in what realms it can develop accounting standards. Why FAF has suddenly ...

GASB Executive changes at GASB with David Bean's retirement By Brian Tumulty March 18, 2021, 2:00 p.m. EDT 3 Min Read ...

Responding to the COVID-19 pandemic was very much on the agenda at the Financial Accounting Foundation in 2020, but that didn’t keep it, and the two U.S. accounting standard-setting boards that it ...

The Governmental Accounting Standards Board (GASB) is a private organization that creates generally accepted accounting principles for state and local governments.