GASB issues practice statements for governments.

• Position: GASB

The Governmental Accounting Standards Board issued two statements addressing important practice issues k for state and local governments. Statement No. 65, Items Previously Reported as Assets and Liabilities, clarifies the appropriate reporting of deferred outflows of resources and deferred inflows of resources to ensure consistency in financial reporting. Statement No. 66, Technical Corrections--2012, enhances the usefulness of financial...