White Paper on implementing GASB 68 now available.

• Position: GASB 68

The Governmental Accounting Standards Board issued its Statement No. 68, Accounting and Financial Reporting for Pensions--An Amendment of GASB Statement No. 27, with new pension reporting requirements for employers. GASB also issued Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date--An Amendment of GASB Statement No. 68, to clarify the transition year provisions of GASB 68. Statements issued by the GASB collectively establish the foundation of generally accepted accounting principles. Local governments follow these accounting principles when preparing their financial statements to receive "clean," unmodified audit opinions from their external auditors.

This white paper (http://blogs.calcpa.org/ buzz/files/2015/05/ GASB-68-White-Paper, pdf) was prepared by the California Committee on...