How changing regulations affect government
2 min read
From the CARES Act to GASB: Implications for government organizations
Governments, take note: COVID-19 is causing massive disruption, but measures are being introduced to ease your financial burden. The CARES Act will provide additional funding, and GASB deadlines may be extended. GFOA is also accepting requests to extend deadlines.
1 min read
OMB provides single audit extensions and administrative relief
The OMB has issued a memorandum to provide guidance on areas of administrative relief for recipients and applicants of federal financial assistance directly impacted by COVID-19 due to loss of operations. Here’s what you need to know.
1 min read
GASB initiates new project with significant GASB 84 implications
Once this new standard is issued, it will likely have a significant impact on determining whether defined contribution pension and OPEB plans meet the definition of a fiduciary component unit under GASB 84.
2 min read
GASB replacement of Interbank Offered Rates: What you need to know
In September 2019, the GASB issued an exposure draft titled “Replacement of Interbank Offered Rates.” As you amend agreements to replace LIBOR as a reference rate, keep in mind the provisions on this proposed standard to minimize any accounting impact.
Deep dive: How changing regulations affect government
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