States – Finance Officers Associations

GASB Looking for Input on Proposed Reporting Rules for Derivatives

In an effort to improve the financial reporting of derivatives by state and local governments, the General Accounting Standards Board (GASB) has issued a preliminary draft of new disclosure requirements. GASB also recently posted a “plain language” article – written specifically for users of financial statements – that explains derivatives and the proposed reporting requirements in easy-to-understand terms.

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