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GASB updates its technical agenda

  • GASB (blue) Image

Apr 27, 2015

At its board meeting last week, the GASB discussed updating its technical plan. Agenda decisions the Board made at the meeting are summarized below.

The GASB voted to add projects on:

  • Going concern — According to its press release, the Board will research “whether existing GAAP standards provide state and local government financial statement preparers with sufficient guidance about management’s responsibilities for evaluating and disclosing uncertainties associated with severe financial stress.”
  • Debt disclosure guidance — The Board will research “whether notes to the financial statements currently provide sufficient debt information to financial statement users for decision making and assessments of accountability.”

The GASB also decided to remove its project on economic condition reporting from its technical agenda.

For more information, see the press release on the GASB’s Web site.

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