WebApr 20, 2024 · Example: Accounting for a lease under GASB 87 with Excel Step 1: Calculate the initial lease liability Step 2: Calculate the initial lease asset value Step 3: Record the opening journal entry under GASB 87 Step 4: Book subsequent journal entry 6. Five more articles to help you get ready for the GASB 87 effective date 7. WebJul 5, 2012 · This line item is still amortized as a component of interest expense over the shorter of the life of the old or new debt. Regulatory credits – GASB No. 62 incorporated regulatory accounting (ASC 980/FASB 71) into the governmental standards. GASB No. 65 re-evaluates the types of balances created under regulatory accounting and discusses …
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WebFeb 14, 2024 · Method 3 addresses this issue. Method 3 - Use GASB 62 to offset the GASB 33 non-exchange effect Governmental Accounting Standards Board Statement No. 62 - Regulated Operations section is used to match revenues and expenses to when they are included in electric rates and paid by customers. Web10.11 Effective-interest-rate calculation Publication date: 13 Oct 2024 us IFRS & US GAAP guide 10.11 Differences between the expected lives and the contractual lives of financial liabilities have different implications under the two frameworks unless the instruments in question are carried at fair value. kenshi where to find cactus
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WebApr 2, 2024 · Statement Aims to Ease Transition from London Interbank Offered Rates. April 9, 2024. On April 2, 2024, the Governmental Accounting Standards Board (GASB) issued Statement No. 93, Replacement of Interbank Offered Rates. The statement provides exceptions to the existing provisions for hedge accounting termination and … WebGASB Exposure Draft Accounting and Financial Reporting for Certain External Investment Pools External Investment Pools •What: The GASB is considering revisions to the accounting and financial reporting standards for 2a7-like investment pools •Why: Securities and Exchange Commission changes to Rule 2a7 would make it difficult WebMar 9, 2024 · Achieving that objective will include: (1) development of guidance applicable to topics for which existing guidance is limited, (2) improvement of existing guidance that has been identified as challenging to apply, (3) consideration of a performance obligation approach to the GASB’s authoritative literature and (4) assessment of existing and … is ifs available in excel 2016