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GASB issues guidance on debt disclosures

  • GASB document Image

Apr 03, 2018

The GASB has issued Statement No. 88, “Certain Disclosures Related to Debt, Including Direct Borrowings and Direct Placements.”

Statement 88 clarifies which “liabilities governments should include in their note disclosures related to debt” and requires that “all debt disclosures present direct borrowings and direct placements of debt separately from other types of debt.”

Statement 88 is effective for reporting periods beginning after June 15, 2018. Early application is encouraged.

For more information, see the press release and Statement 88 on the GASB’s Web site.

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