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GASB issues omnibus statement

  • GASB document Image

Mar 21, 2017

The GASB has issued Statement No. 85, “Omnibus 2017.”

Statement 85 addresses “practice issues that have been identified during implementation and application of certain GASB Statements.” Topics covered in the Statement include “issues related to blending component units, goodwill, fair value measurement and application, and postemployment benefits (pensions and other postemployment benefits . . . ).”

Statement 85 is effective for reporting periods beginning after June 15, 2017. Early application is encouraged.

For more information, see Statement 85 on the GASB’s Web site.

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