External Reporting Board -ERB Public Sector Simple Format Reporting Package Issued
The NZASB has issued a package of Simple Format Reporting Standards and other documents that will apply to Tier 3 and Tier 4 Public Sector Public Benefit Entities for financial years beginning on or after 1 July 2014.
This is the fourth package of standards to be issued as part of the implementation of the new Accounting Standards Framework established by the XRB Board in April 2012.
GABS FAF ISSUES FINAL POLICY ON GASB SCOPE OF AUTHORITY
The Financial Accounting Foundation (FAF) Board of Trustees today adopted a new policy that clarifies the characteristics of the information the Governmental Accounting Standards Board (GASB) may incorporate into the financial accounting and reporting concepts, standards, and guidance that it issues for state and local governments.
The new policy, described in GASB Scope of Authority: Consultation Process Policy, is effective immediately. Key elements of the new policy will be included in the GASB’s Rules of Procedure.
http://www.accountingfoundation.org/cs/ContentServer?c=FAFContent_C&pagename=Foundation/FAFContent_C/FAFNewsPage&cid=1176163627108 GASB TOOLKIT HELPS PENSION PLANS IMPLEMENT NEW ACCOUNTING STANDARDS
A new online toolkit designed to help preparers and auditors of state and local government pension plans implement new accounting and financial reporting standards was released today by the Governmental Accounting Standards Board (GASB). The toolkit is available at no cost at the GASB website.