Novaworks Weblog - GASB News

Financial Accounting Foundation Publishes 2024 Annual Report

nospam@example.com (LeAnn Dey) — Thu, 24 Apr 2025 11:45:00 -0400

On April 16th, the Financial Accounting Foundation (FAF) released its 2024 annual report, Standards That Work, Stakeholder Engagement. The report highlights the organization's activities throughout 2024 and showcases how the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) engage with a number of stakeholder groups to develop and enhance Generally Accepted Accounting Principles (GAAP). The publication also comprises viewpoints from FAF leaders who provide the oversight and accountability vital to the organization's standard-setting process. Continue reading "Financial Accounting Foundation Publishes 2024 Annual Report"

XBRL US Opens Registration for GovFin

nospam@example.com (LeAnn Dey) — Tue, 15 Apr 2025 16:45:00 -0400

Join us at GovFin 2025! XBRL US, in conjunction with the University of Denver, will host a conference to discuss how the Financial Data Transparency Act (FDTA) can facilitate the efficient rollout of digital reporting for municipal bond issuance and other disclosures with data submissions in a structured, machine-readable format. The event’s presentations will address how this will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. Novaworks is a sponsor of this event, and our staff will be on hand to answer questions and provide information. Continue reading "XBRL US Opens Registration for GovFin "

Register Now for GovFin 2024

nospam@example.com (LeAnn Dey) — Wed, 05 Jun 2024 09:12:00 -0400

Join us at GovFin 2024! XBRL US, in conjunction with PricewaterhouseCoopers, will host this conference to discuss how the Financial Data Transparency Act (FDTA) can improve municipal bond issuer reporting and other disclosures with data submissions in structured, machine-readable format. The event, which takes place July 29th and 30th in New York City, will feature presentations that address how the FDTA will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. Novaworks is a sponsor of this event, and our staff will be on hand to answer questions and provide information. Continue reading "Register Now for GovFin 2024"

FAF Trustees Improve Stakeholder Feedback Procedures and Disclosure Requirements for Standard-Setting Boards

nospam@example.com (LeAnn Dey) — Fri, 12 May 2023 09:05:00 -0400

The Board of Trustees of the Financial Accounting Foundation (FAF) has announced an enhancement that will facilitate stakeholders’ ability to raise potential concerns about compliance with the due process procedures of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). This is part of FAF’s continuing endeavor to improve its oversight activities and to further increase disclosure requirements for stakeholders. The enhancement gives stakeholders the ability to flag and report to the FAF’s Oversight Committee (Committee) supposed failures by either the FASB or the GASB to follow their due process procedures as defined in the FAF By-Laws. Continue reading "FAF Trustees Improve Stakeholder Feedback Procedures and Disclosure Requirements for Standard-Setting Boards"

GASB Introduces Proposed Guidance to Facilitate Application of Subscription-based Information Technology Arrangements

nospam@example.com (LeAnn Dey) — Wed, 08 Feb 2023 09:04:42 -0500

On February 6th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that would expound on existing guidance related to subscription-based information technology arrangements (SBITAs). The Exposure Draft, Additional Proposal for Implementation Guidance Update—2023, focuses on whether the definition of a cloud computing arrangement is comparable to that of an SBITA, as defined in GASB Statement No. 96, Subscription-Based Information Technology Arrangements. Continue reading "GASB Introduces Proposed Guidance to Facilitate Application of Subscription-based Information Technology Arrangements"

GASB Proposes Guidance to Help Stakeholders Apply its Pronouncements

nospam@example.com (LeAnn Dey) — Fri, 18 Nov 2022 08:25:00 -0500

On November 15th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that uses a questions and answers format to clarify and expound on certain GASB pronouncements. Continue reading "GASB Proposes Guidance to Help Stakeholders Apply its Pronouncements"

GASB Adds Pre-Agenda Research Activity and Major Project to Technical Plan

nospam@example.com (LeAnn Dey) — Tue, 11 Jan 2022 08:40:00 -0500

In December 2021, the Governmental Accounting Standards Board (GASB) voted to approve pre-agenda research activity on subsequent events as part of its technical plan for the first third of 2022. The GASB also approved the addition of a major project focusing on “going concern” uncertainties and severe financial stress. An entity is a “going concern” if it is able to continue operating long enough to carry out its commitments, obligations, and objectives. The GASB is investigating how “going concern” states are influenced by severe financial distress. Continue reading "GASB Adds Pre-Agenda Research Activity and Major Project to Technical Plan"

Financial Accounting Foundation Publishes 2020 Annual Report

nospam@example.com (The Novaworks Team) — Thu, 03 Jun 2021 10:07:49 -0400

On May 26, 2021, the Financial Accounting Foundation (FAF) posted its 2020 Annual Report, themed “Standards That Work from Main Street to Wall Street”. Continue reading "Financial Accounting Foundation Publishes 2020 Annual Report"