GASB proposes enhanced disclosure of capital assets

This week, the GASB issued a proposal that would require disclosure of disaggregated information for certain classes of capital assets, including intangible assets, lease assets, and subscription-based information technology assets. The proposal would also establish criteria for governments to determine whether capital assets should be classified as held for sale.

The guidance would be effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter. Comments are due by January 5, 2024.
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