Financial Instruments Omnibus

Pearson, Robert
July 2010
Governmental GAAP Update Service;7/30/2010, Vol. 10 Issue 14, p1
Trade Publication
The article offers information on the Financial Instruments Omnibus (GASB-59) issued by the U.S. Governmental Accounting Standards Board (GASB) on financial statement reporting. It details the updates and improvements for financial reporting and disclosure requirements for periods beginning on or after June 15, 2010. The GASB-59 statement includes provisions that amend the current standards such as unallocated insurance contracts, interest rate risk disclosures, and external investment pools.


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