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Abstract: 

The Governmental Accounting Standards Board (GASB) has been focusing its attention on numerous projects recently, resulting in the issuance of a Final Statement, four Exposure Drafts (EDs), and a Plain-Language Supplement (PLS). In addition, the Board is continuing work on the economic condition and pollution remediation obligations projects, as well as beginning discussions on derivatives and hedging and issuing a Technical Bulletin (TB) on derivative disclosures. The Board also began a comprehensive review of previously issued Implementation Guides.

Keywords: Statement No. 40, Deposit and Investment Risk Disclosures; ED Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries; ED Budgetary Comparison Schedules—Perspective Differences

Affiliations:  1: Randolph-Macon College.