Tribal Government Accounting Working Group Members Announced
October 14, 2018
Feedback on the Improving the Financial Reporting Model
September 9, 2018
GASB Requests Input on Revenue and Expense Recognition
February 19, 2018
GASB Requests Tribal Government Input on Note Disclosures
November 7, 2017
Governmental Accounting Standards Board (GASB) Standards and Guidelines
The GASB is an independent organization that establishes and improves standards of accounting and financial reporting for tribal, state, and local governments. It is recognized by the accounting industry and the capital markets as the official source of generally accepted accounting principles (GAAP) for governments. NAFOA holds a seat on the Governmental Accounting Standards Advisory Council (GASAC), which is responsible for consulting with the GASB on technical issues on the GASB's agenda, project priorities, matters likely to require the attention of the GASB, and concerns of tribal governments.
NAFOA’s participation in the GASAC provides the GASB with a tribal government perspective to help make well-informed decisions and improve the standards of tribal governmental accounting and financial reporting.
Preliminary Views: Financial Reporting Model Improvements
This document presents the preliminary views of the GASB on improvements to key components of the financial reporting model. The goal of the proposed changes would improve the effectiveness of the financial reporting model in providing information that is essential for decision making and assessing a government’s accountability. The proposals in this Preliminary Views primarily are targeted at addressing several concerns with the existing reporting of governmental fund information. Comments are due by 15 February 2019
Preliminary Views: Recognition of Elements of Financial Statements
This due process document presents the preliminary views of the GASB on concepts for recognition of elements of financial statements. Recognition concepts encompass two aspects of state and local government financial statements: (1) The measurement focus of a specific financial statement determines what items should be reported as elements of that financial statement. (2) The related basis of accounting determines when those items should be reported. Comments are due by February 15, 2019.
Implementation Guide: Fiduciary Activities
The objective of this Implementation Guide is to provide guidance that clarifies, explains, or elaborates on the requirements of Statement No. 84, Fiduciary Activities. Comments are due by 28 February 2019.