The benefits of preparing for GASB 84 now

In January 2017, the Governmental Accounting Standards Board (GASB) issued the final standard on identifying and reporting fiduciary activities under Statement No. 84. While GASB 84 is not effective until reporting periods beginning after December 15, 2018, application of the standard should be retrospectively applied, if practicable, to all periods presented. Therefore, if comparative financial …

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How are the New Accounting Standards for State and Government Pensions Going to Affect Me?

In June 2012, Governmental Accounting Standards Board (GASB) issued 2 new standards (GASB67 and 68) dealing with financial statement reporting of State and local government pensions.  These standards change how State and local governments report the costs and obligations associated with defined benefit pension plans.  Governments will be implementing changes as early as June 30, …

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