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.