Home      Login

Abstract: 

The Governmental Accounting Standards Board (GASB) recently issued two Statements, two Exposure Drafts, and a Concepts Statement. In addition, the Board added two new projects to the current technical agenda and continued discussions on fund balance reporting and governmental fund type definitions. The retirement of two GASB members and the appointment of their successors were also announced. This update covers these developments, including Statement No. 50, Pension Disclosures, Statement No. 51, Accounting and Financial Reporting for Intangible Assets; Exposure Drafts on Land and Other Real Estate Held as Investments by Endowments and Accounting and Financial Reporting for Derivative Instruments; and Concepts Statement No. 4, Elements of Financial Statements.

Keywords: 

Affiliations:  1: Randolph-Macon College.