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GASB Issues Implementation Guide to Statement No. 84 for Fiduciary Activities
On June 17, 2019, the Governmental Accounting Standards Board (GASB) issued Implementation Guide No. 2019-2 for accounting and financial reporting for fiduciary activities in accordance with the requirements of GASB Statement No. 84, Fiduciary Activities. The main objective of Statement No. 84 is to enhance the consistency and comparability of fiduciary activity reporting by state and local governments.
The guide is presented in a “question and answer” format and is intended to clarify, explain or elaborate on the requirements of GASB Statement No. 84, which became effective for reporting periods beginning after December 15, 2018.
The guide is available on the GASB’s web site here.