Governmental Accounting Standards board issues exposure drafts on concepts related to communication methods, net assets reporting.

The Governmental Accounting Standards Board has published an exposure draft for a proposed Statement of Governmental Accounting Concepts, Communication Methods, that would provide a conceptual basis for selecting communication methods to present items of information within general purpose external financial reports that contain basic financial statements. These communication methods would include recognition in basic financial statements, disclosure in notes to basic financial statements, presentation as required supplementary information, and presentation as supplementary information. The comment period concludes Sept. 30.

In another exposure draft, the GASB intends to clarify for the preparers of state and local government financial statements the requirements for reporting net assets contained in GASB Statement No. 34...