The GASB issued Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance. Statement No. 95 postpones by one year the Statements and Implementation Guides that first became effective or were scheduled to become effective for periods beginning after June 15, 2018, and later.

In all, Statement No. 95 postpones the effective dates of provisions in Statements and Implementation Guides as follows:

• Statement No. 83, Certain Asset Retirement Obligations
• Statement No. 84, Fiduciary Activities
• Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements
• Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period
• Statement No. 90, Majority Equity Interests
• Statement No. 91, Conduit Debt Obligations
• Statement No. 92, Omnibus 2020, paragraphs 6–10 and 12
• Statement No. 93, Replacement of Interbank Offered Rates
• Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting)
• Implementation Guide No. 2018-1, Implementation Guidance Update—2018
• Implementation Guide No. 2019-1, Implementation Guidance Update—2019
• Implementation Guide No. 2019-2, Fiduciary Activities

In addition, the effective dates of the following pronouncements are postponed by 18 months:

• Statement No. 87, Leases
• Implementation Guide No. 2019-3, Leases

Early application of the provisions addressed in Statement No. 95 is encouraged and is permitted to the extent specified in each pronouncement as originally issued.

The full text of Statement No. 95 is available here.

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Published: 06/01/2020

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