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GASB Summaries |
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GASB Summaries |
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Statement No. 4 Applicability of FASB Statement No. 87, "Employers' Accounting for Pensions," to State and Local Governmental Employers STATUS Issue Date: September 1986 Effective Date: On issuance in September 1986 Affects: Supersedes NCGAS 1, paragraph 42 fn8 Affected by: Paragraph 10 amended by GASBS 29, ¶6 Paragraph 11 amended by GASBS 5, ¶30-¶47 Will be superseded by GASBS 27 Primary Codification Section Reference: P20 Abbreviations for Accounting Pronouncements GASBS - GASB Statements GASBI - GASB Interpretations GASBTB - GASB Technical Bulletins GASBCS - GASB Concepts BFC - Basis for Conclusions NCGAS - NCGA Statements NCGAI - NCGA Interpretations SOP - AICPA Statements of Position ASLGU - AICPA Audit Guide SUMMARY This Statement provides that state and local governmental employers should not change their accounting and financial reporting of pension activities as a result of FASB Statement No. 87, Employers' Accounting for Pensions. The GASB is making progress on that subject and expects to issue one or more pronouncements on it in the near future. The provisions of this Statement are effective on issuance. Unless otherwise specified, pronouncements of the GASB apply to financial reports of all state and local governmental entities, including public benefit corporations and authorities, public employee retirement systems, and governmental utilities, hospitals, colleges, and universities. Copyright by Governmental Accounting Standards Board. All Rights Reserved. Used by Permission. Click Here for Order Information
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