Apr 04, 2016
From the Financial Reporting Network
The GASB recently issued Implementation Guide No. 2016-1, Implementation Guidance Update–2016, which primarily addresses questions about recently issued GASB standards on fair value and tax abatement disclosures. The Guide also addresses practice issues related to other topics that stakeholders brought to the GASB’s attention, and reinstates and updates certain previously superseded questions and answers for the effects of newly issued GASB standards about pensions and other postemployment benefits. The Guide is effective for reporting periods beginning after June 15, 2016.