It’s Been a Minute
For the second time in four years, the Governmental Accounting Standards Board (GASB)—or more accurately, the GASB’s staff—has issued an update to its Comprehensive Implementation Guidance (CIG), which incorporates all currently in-effect implementation guidance. Implementation guides (IGs) comprise sets of questions and answers (Q&As) that apply generally accepted accounting principles (GAAP) to specific situations, helping to explain the practical implications of the rules. Individual IGs are then incorporated into the CIG. IGs are sometimes issued for new GASB standards that GASB staff anticipates will generate a large volume of questions, such as shortly after the board-issued pension and other postemployment benefit standards and, more recently, lease standards. Otherwise, periodic updates to the CIG are issued as needed. These CIG updates, which include new and updated Q&As on a variety of topics, were issued annually from 2015 until 2021, but appear to be slowing down to a biennial rhythm.
Publication Date: August 2025
Author: Michele Mark Levine
