The Governmental Accounting Standards Board is giving state and local governments extra time to implement its new leases standard because of the coronavirus pandemic, and they will need it.
At least 39 states did not have enough money to pay all of their bills at the end of 2019, leaving them ill-prepared to shoulder the costs of the novel coronavirus pandemic, according to a new report.
The Governmental Accounting Standards Board is working on developing new standards for state and local governments to use under its new chair, Joel Black, while responding to the novel coronavirus pandemic.
The Governmental Accounting Standards Board released a technical bulletin with guidance for applying existing GASB standards to transactions related to the CARES Act and outflows incurred in response to the COVID-19 pandemic.
The Governmental Accounting Standards Board released a proposed technical bulletin Thursday from its staff with application guidance on the CARES Act and outflows incurred by state and local governments in response to the COVID-19 pandemic.
As state finances across America are upended by the coronavirus, almost all of them face the same, self-imposed, problem: how to balance their budgets.
Nations around the world face unexpected expenses and revenue shortfalls arising from the COVID-19 pandemic.
The Governmental Accounting Standards Board is postponing the effective dates of many of its pronouncements and implementation guides for 12 to 18 months to provide some breathing room for accountants.
The Governmental Accounting Standards Board is proposing to delay the effective dates of provisions for all Statements and Implementation Guides by one year.
The Treasury Department has created a web-based portal through which state, local and tribal governments will be able to access payments to help offset the costs of the novel coronavirus pandemic.