GASB has proposed its Exposure Draft that would improve the financial reporting model. The proposal includes changes to MD&A, extraordinary items, presentation of proprietary funds and implements the short-term financial resource measurement focus for governmental funds which was introduced in an ED earlier this month.
Comments are due Feb. 26, 2021. Comments should be addressed to the Director of Research and Technical Activities, Project No. 3-25, and emailed to director@gasb.org.
“GASB Exposure Draft: Financial Reporting Model Improvements”: https://www.gasb.org/cs/Satellite?c=Document_C&cid=1176174965673&pagename=GASB%2FDocument_C%2FDocumentPage
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With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.
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