GASB Preliminary Views Addresses Revenue and Expense Recognition
GASB has tackled one of its most significant projects by releasing a Preliminary Views document on revenue and expense recognition, a major step toward what could be a significant change in the way governmental entities categorize, measure, and recognize revenue and expenses.
ED Releases Limited Guidance on CARES Act Reporting and Extends FISAP and EADA Deadlines
As institutions eagerly await further CARES Act reporting guidance, the Department of Education shared some – but not much – information on quarterly reporting requirements.
GASB Seeks Revenue and Expense Field Testers
Public institutions are able to participate in a field test of the proposed standards in the recently released Preliminary Views, Revenue and Expense Recognition. This is an opportunity to work closely with GASB staff and influence final guidance.