WebFeb 11, 2024 · Following GASB Statement 72, an MEI that qualifies as an investment should be reported using the equity method. However, for special-purpose governments engaged in only fiduciary activities, fiduciary funds, endowments or permanent funds, an MEI held as an investment should be reported at fair value. WebExternal Investment Pools in the schedule of fair value hierarchy Q. 4.38: If pool is compliant with GASB 79 and elects to measure its investments at amortized cost, the government measures the investment at amortized cost and it should not be categorized within the fair value hierarchy. If the pool measures investments at fair value, regardless
GASB 72 Fair Value Measurement - FGFOA
Web• GASB defines OPEB expense almost identically to that of pensions: – Begin with the change in liability from beginning to ending MD – Defer any amounts specifically required … WebUnder GASB 67 and GASB 68, a pension plan’s net pension liability (NPL) is equal to the total pension liability(TPL) minus the fiduciary net position(i.e., the market value of assets). The NPL is similar to the unfunded actuarial liability (UAL) under GASB 25 … minecraft wool color recipes
New Governmental Accounting Standards Board (GASB) Pronouncements
WebSummary of Statement No. 31Accounting and Financial Reporting for Certain Investments and for External Investment Pools(Issued 3/97) Summary. This Statement establishes accounting and financial reporting standards for all investments held by governmental external investment pools. For most other governmental entities, it … WebInvestments not measured at fair value continue to include, for example, money market investments, 2a7-like external investment pools, investments in life insurance contracts, common stock meeting the criteria for applying the equity method, unallocated insurance … Important Update: In February 2024, the Financial Accounting Foundation (FAF) … Web– Disclose by amount & issuer investments in any 1 issuer of 5% or more of total investments (not including deposits) based on level of detail discussed previously – US treasuries & US government-guaranteed investments are excluded from this requirement – Investments in mutual funds (NCCMT) and investment morty transparent