WebGASB 87 - Measurement of Lease Liability Lease liability should be measured at the PRESENT VALUE of future payments expected to be made during the lease term. Present value (PV) is the current worth of a future sum of money given a specified rate of return. Measurement should include the following, if required by lease: Fixed payments Variable … WebIn the fund financial statements, a government may elect to report any governmental or Enterprise Fund as major if the government considers financial information on that fund …
GASB Amends Implementation Guidance for Capital Assets - Moss …
WebThe GASB requires that any fund that meets the following relative size criteria be designated as major: a. Total assets, liabilities, revenues or expenditures/expenses of … WebMajor funds are funds whose revenues, expenditures/expenses, assets, or liabilities (excluding extraordinary items) are at least 10 percent of corresponding totals for all governmental or enterprise funds and at least 5 percent of the aggregate amount for all … cow rug in living room
New Requirements for Reporting Fund Balance - Correspondence …
WebFinancial Statement Presentation. On a statement of financial position, present both of the following: Present the statement of net position in the following format: Assets + deferred … WebThe Common Form collected only current unrestricted, restricted and auxiliary funds. It did not include revenues related to endowments, loans, and plant and equipment—such as … WebThe detailed disclosure requirements for cash and investments have been established in GASB Statement 3, Deposits with Financial Institutions, Investments (including Repurchase Agreements), and Reverse Repurchase Agreements (issued in April 1986); GASB Statement 28, Accounting and Financial Reporting for Securities Lending Transactions … cow rugs livingrooms