GASB revises requirements for accounting changes and error corrections
The Governmental Accounting Standards Board (GASB) has released Statement No. 100, Accounting Changes and Error Corrections (Statement 100), which amends GASB Statement No 62.
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GASB revises requirements for compensated absences
The Governmental Accounting Standards Board has released Statement No. 101, Compensated Absences, replacing GASB Statement No. 16, Accounting for Compensated Absences.
IRS increases mileage rates for the remainder of 2022
The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel.
OMB issues 2022 Compliance Supplement
The OMB has released the 2022 Compliance Supplement, which is effective for audits of fiscal years beginning after June 30, 2021.
Implementing GASB 87: Government entities learn from public companies
Government entities are finding GASB 87 compliance, the Government Accounting Standards Board’s new standard on lease accounting, complex.