GASB 72: What You Should Know
GASB 72, issued in early 2015 by the Governmental Accounting Standards Board (GASB), is designed to improve the comparability and transparency of governmental entities’ financial statements by providing updated guidance on assets and liabilities required to be measured at fair value. The standard becomes effective for financial statements for periods ending after June 15, 2015. This infographic offers a quick overview of GASB 72’s highlights, along with the issues entities implementing the standard may face.
For more information about GASB 72 or other GASB updates, contact Mike Lowry using the information below.
Assurance/Public Sector Team Leader
Mike Lowry specializes in governmental and not-for-profit clients. Prior to joining AGH, Mike’s experience included nearly 20 years of financial and technology leadership positions in hospitality management and software companies. He is a certified public accountant who has earned the designation of Certified Government Financial Manager from the Association of Government Accountants, and he is also a member of the American Institute of CPAs, the Kansas Society of Certified Public Accountants, and the Association of Government Accountants. He is a frequent presenter and member of the Kansas, Missouri, and Great Plains Financial Officers Association, and serves as a CAFR reviewer for the GFOA.