GASB Standards
Deep-dive coverage of the governmental accounting standards that shape how state and local governments report their financial position.
Leases
Establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Requires recognition of lease liabilities and right-of-use assets.
Subscription-Based Information Technology Arrangements (SBITAs)
Defines accounting for cloud computing contracts and other IT subscription arrangements. Modeled after GASB 87 with right-of-use subscription asset and corresponding liability.
Financial Reporting Model Improvements
The most significant overhaul of the government financial reporting model since GASB 34. Replaces government-wide operating statements, adds budget-to-actual at fund level, and restructures MD&A.
Accounting and Financial Reporting for Pensions
Requires governments to recognize their proportionate share of the net pension liability on their financial statements. Changed how pension costs flow through operating statements.
Accounting and Financial Reporting for OPEB
Parallels GASB 68 for other post-employment benefits (healthcare, life insurance). Requires recognition of total and net OPEB liability, expense, and related deferrals.
Basic Financial Statements — and Management's Discussion and Analysis — for State and Local Governments
The foundational standard that established the current dual-perspective reporting model: government-wide (full accrual) and fund-level (modified accrual) financial statements.