18-Month Delay for GASB Leases; One Year for All Other Statements
In response to challenges arising from the SARS-CoV-2 virus and the incidence of COVID-19, GASB approved Statement 95, Postponement of the Effective Dates of Certain Authoritative Guidance. GASB approved an 18-month postponement for Statement 87, Leases. All statements and implementation guides with a current effective date of reporting periods beginning after June 15, 2018, and later will have a one-year postponement. Read on for more details on effective date changes.