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GASB Issues Implementation Guide to Various Statements

May 3, 2019

The Governmental Accounting Standards Board (GASB) issued question-and-answer guidance intended to clarify, explain, or elaborate on the implementation and application of certain GASB Statements. Implementation Guide No. 2019-1 (PDF), Implementation Guidance Update–2019, addresses new questions about application of the Board’s standards on multiple topics, including but not limited to:

  • Derivative instruments
  • Disaster-related expenditure-driven grants
  • Irrevocable split-interest agreements
  • Postemployment benefits
  • Tax abatement disclosures
  • Transfers of capital assets within a financial reporting entity.