GASB Preliminary Views on Leases and Fiduciary Responsibility

In November 2014, GASB released preliminary views for public comment for changes for state and local governments in financial reporting of leases and activities with fiduciary responsibilities.

For leases longer than 12 months, GASB proposes changes for governments as lessee or as lessor.

For governments acting as fiduciary, GASB seeks to enhance consistency and comparability of financial reporting.

For more information, please read the attached article, or contact Eric Van Dop at (231) 726-5855 or evandop@brickleydelong.com.