Wiley GAAP for Governments 2015: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments

1 NEW DEVELOPMENTS

Introduction

Recently Issued GASB Statements and Their Effective Dates

Exposure Drafts

Exposure Draft of Proposed Statement – Financial Reporting for Postemployment Benefit Plans Other Than Pensions

Exposure Draft of Proposed Statement – Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions

Effective Date

Effective Date

Exposure Draft of Proposed Statement - Fair Value Measurement and Application

Fair Value Measurements

Exposure Draft of a Proposed Statement – The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments

Exposure Draft – Implementation Guide No. 20XX-1

Effective Date

Preliminary Views

Elements of Financial Statements – Recognition and Measurement Approaches

Recognition of Elements of Financial Statements

Measurement Approaches

GASB Project Plan

Summary

INTRODUCTION

The 2015 Governmental GAAP Guide incorporates all of the pronouncements issued by the Governmental Accounting Standards Board (GASB) through August 2014. This chapter is designed to keep the reader up to date on all pronouncements recently issued by the GASB and their effective dates, as well as to report on the Exposure Drafts, Preliminary Views, and Invitations to Comment for proposed new statements or interpretations that are currently outstanding. This chapter also includes relevant information on the GASB's Technical Agenda for the upcoming year to give readers information as to potential areas for future GASB requirements. ...