In December 2021, the Governmental Accounting Standards Board (GASB) voted to approve pre-agenda research activity on subsequent events as part of its technical plan for the first third of 2022. The GASB also approved the addition of a major project focusing on “going concern” uncertainties and severe financial stress. An entity is a “going concern” if it is able to continue operating long enough to carry out its commitments, obligations, and objectives. The GASB is investigating how “going concern” states are influenced by severe financial distress. Continue reading "GASB Adds Pre-Agenda Research Activity and..." »