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Wiley GAAP for Governments 2013: Interpretation and Application of Generally Accepted Accounting Principles for State and Local Governments by Warren Ruppel

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CHAPTER 1

NEW DEVELOPMENTS

Introduction

Recently Issued GASB Statements and Their Effective Dates

Exposure Drafts

Exposure Draft—Accounting and Financial Reporting for Nonexchange Financial Guarantee Transactions

Accounting and Financial Reporting for Nonexchange Financial Guarantee Transactions

Recognition and Measurement in Economic Resources Financial Statements

Recognition and Measurement in Current Financial Resources Financial Statements

Government Receiving a Financial Guarantee

Disclosures

Effective Date and Transition

Exposure Draft—Government Combinations and Disposals of Government Operations

Effective Date

Preliminary Views

Recognition of Elements of Financial Statements

Measurement Approaches

GASB Project Plan

Summary

INTRODUCTION

The 2013 Governmental GAAP Guide incorporates all of the pronouncements issued by the Governmental Accounting Standards Board (GASB) through November 2012. 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.

RECENTLY ISSUED GASB STATEMENTS AND THEIR EFFECTIVE DATES

GASB Statement Effective Date Where in this book ...

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