GASB 104 was issued in September 2024 and requires state and local governments to provide information about certain types of capital assets. Specifically lease assets reported in accordance with GASB 87, intangible right-to-use assets under GASB 94, subscription assets with GASB 96, and other intangible assets by major class of asset. Additionally, capital assets held for sale should be disclosed in the notes to the financial statements.
The effective date for GASB 104 is for fiscal years beginning after June 15, 2025, and all reporting periods thereafter
SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members.
Alexandria Romero, CPA, is a seasoned professional with nearly two decades of expertise in governmental and nonprofit accounting. She plays a pivotal role in developing governmental training programs at Galasso Learning Solutions. Before joining the team, Alex honed her skills in various roles within the accounting field. Her engaging presentation style and passion for connecting with attendees have made her a sought-after educator, known for her ability to make complex topics accessible.
