Tag Archives: calculations

GASB SIMPLIFIES ACCOUNTING FOR CAPITALIZED INTEREST

The Governmental Accounting Standards Board (GASB) Statement No. 89 (Statement), Accounting for Interest Cost Incurred before the End of a Construction Period, which is effective for reporting periods beginning after Dec. 15, 2019, brings a welcome relief to state and local governments by eliminating complex capitalized interestĀ calculations. Under this Statement, for financial statements prepared using Read More…