Discover the key updates in GASB’s new exposure draft on infrastructure assets and how these changes impact financial reporting requirements. This concise overview highlights what governments need to know moving forward.
- Definition and examples of infrastructure assets, including recent clarifications
- Explanation of asset networks and components under the new proposal
- Retention of two measurement bases: historical cost and modified approach
- New requirements for periodic review and note disclosures, including assets exceeding 80% and 100% of useful life
- Effective dates, adoption options, and the opportunity to comment on the draft
SC.CPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SC.CPA members.
Melisa F. Galasso is the Founder and CEO of Galasso Learning Solutions LLC. A CPA with over 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Her passion is providing high-quality CPE that is meaningful, creates efficiencies and improves quality, and positively impacts ROI.
Do you agree with the proposed changes to infrastructure assets?
