Wiley GAAP for Governments 2020

1NEW DEVELOPMENTS

• Introduction
• Recently Issued Gasb Statements and their Effective Dates
• Exposure Drafts
  • Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans
  • Internal Revenue Code Section 457 Deferred Compensation Plans That Meet the Definition of a Pension Plan and Supersession of GASB Statement No. 32
  • Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements
  • Implementation Guide Update – 2020
  • Replacement of Interbank Offered Rates
  • Public-Private and Public-Public Partnerships and Availability Payment Arrangements
  • Subscription-Based Information Technology Arrangements
• Preliminary Views
  • Financial Reporting Model Improvements
• Invitation to Comment
  • Revenue and Expense Recognition
• GASB Project Plan
• Summary

INTRODUCTION

The 2020 Governmental GAAP Guide incorporates all of the pronouncements issued by the Governmental Accounting Standards Board (GASB) through January 2019. 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 (ITCs) 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 ...