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Future Accounting Standard Changes <br />Uif!gpmmpxjoh!Hpwfsonfoubm!Bddpvoujoh!Tuboebset!Cpbse!)HBTC*!Tubufnfout!ibwf!cffo!jttvfe!boe!nbz!ibwf!bo!jnqbdu! <br />)2* <br />po!gvuvsf!Vujmjujftgjobodjbm!tubufnfout;! <br />GASB Statement No. 87 -Leases <br />Summary <br />Uif!pckfdujwf!pg!uijt!Tubufnfou!jt!up!cfuufs!nffu!uif!jogpsnbujpo!offet!pg!gjobodjbm!tubufnfou!vtfst!cz!jnqspwjoh! <br />bddpvoujoh!boe!gjobodjbm!sfqpsujoh!gps!mfbtft!cz!hpwfsonfout/!Uijt!Tubufnfou!jodsfbtft!uif!vtfgvmoftt!pg!hpwfsonfout“! <br />gjobodjbm!tubufnfout!cz!sfrvjsjoh!sfdphojujpo!pg!dfsubjo!mfbtf!bttfut!boe!mjbcjmjujft!gps!mfbtft!uibu!qsfwjpvtmz!xfsf!dmbttjgjfe! <br />bt!pqfsbujoh!mfbtft!boe!sfdphoj{fe!bt!jogmpxt!pg!sftpvsdft!ps!pvugmpxt!pg!sftpvsdft!cbtfe!po!uif!qbznfou!qspwjtjpot!pg! <br />uif!dpousbdu/!Ju!ftubcmjtift!b!tjohmf!npefm!gps!mfbtf!bddpvoujoh!cbtfe!po!uif!gpvoebujpobm!qsjodjqmf!uibu!mfbtft!bsf! <br />gjobodjoht!pg!uif!sjhiu!up!vtf!bo!voefsmzjoh!bttfu/!Voefs!uijt!Tubufnfou-!b!mfttff!jt!sfrvjsfe!up!sfdphoj{f!b!mfbtf!mjbcjmjuz <br />boe!bo!joubohjcmf!sjhiu.up.vtf!mfbtf!bttfu-!boe!b!mfttps!jt!sfrvjsfe!up!sfdphoj{f!b!mfbtf!sfdfjwbcmf!boe!b!efgfssfe!jogmpx! <br />pg!sftpvsdft-!uifsfcz!foibodjoh!uif!sfmfwbodf!boe!dpotjtufodz!pg!jogpsnbujpo!bcpvu!hpwfsonfout“!mfbtjoh!bdujwjujft/! <br />Effective Date and Transition <br />Uif!sfrvjsfnfout!pg!uijt!Tubufnfou!bsf!fggfdujwf!gps!gjtdbm!zfbst!cfhjoojoh!bgufs!Kvof!26-!3132-!boe!bmm!sfqpsujoh!qfsjpet! <br />uifsfbgufs/!! <br />Mfbtft!tipvme!cf!sfdphoj{fe!boe!nfbtvsfe!vtjoh!uif!gbdut!boe!djsdvntubodft!uibu!fyjtu!bu!uif!cfhjoojoh!pg!uif!qfsjpe!pg! <br />jnqmfnfoubujpo!)ps-!jg!bqqmjfe!up!fbsmjfs!qfsjpet-!uif!cfhjoojoh!pg!uif!fbsmjftu!qfsjpe!sftubufe*/!Ipxfwfs-!mfttpst!tipvme!opu <br />sftubuf!uif!bttfut!voefsmzjoh!uifjs!fyjtujoh!tbmft.uzqf!ps!ejsfdu!gjobodjoh!mfbtft/!Boz!sftjevbm!bttfut!gps!uiptf!mfbtft! <br />cfdpnf!uif!dbsszjoh!wbmvft!pg!uif!voefsmzjoh!bttfut/! <br />How the Changes in This Statement Will Improve Accounting and Financial Reporting <br />Uijt!Tubufnfou!xjmm!jodsfbtf!uif!vtfgvmoftt!pg!hpwfsonfout“!gjobodjbm!tubufnfout!cz!sfrvjsjoh!sfqpsujoh!pg!dfsubjo!mfbtf! <br />mjbcjmjujft!uibu!dvssfoumz!bsf!opu!sfqpsufe/!Ju!xjmm!foibodf!dpnqbsbcjmjuz!pg!gjobodjbm!tubufnfout!bnpoh!hpwfsonfout!cz! <br />sfrvjsjoh!mfttfft!boemfttpst!up!sfqpsu!mfbtft!voefs!b!tjohmf!npefm/!Uijt!Tubufnfou!bmtp!xjmm!foibodf!uif!efdjtjpo. <br />vtfgvmoftt!pg!uif!jogpsnbujpo!qspwjefe!up!gjobodjbm!tubufnfou!vtfst!cz!sfrvjsjoh!opuft!up!gjobodjbm!tubufnfout!sfmbufe!up!uif <br />ujnjoh-!tjhojgjdbodf-!boe!qvsqptf!pgb!hpwfsonfou“t!mfbtjoh!bssbohfnfout/! <br />GASB Statement No. 89 -Accounting for Interest Cost Incurred before the End of a Construction Period <br />Summary <br />Uif!pckfdujwft!pg!uijt!Tubufnfou!bsf!)2*!up!foibodf!uif!sfmfwbodf!boe!dpnqbsbcjmjuz!pg!jogpsnbujpo!bcpvudbqjubm!bttfut! <br />boe!uif!dptu!pg!cpsspxjoh!gps!b!sfqpsujoh!qfsjpe!boe!)3*!up!tjnqmjgz!bddpvoujoh!gps!joufsftu!dptu!jodvssfe!cfgpsf!uif!foe!pg!b <br />dpotusvdujpo!qfsjpe/ <br />Uijt!Tubufnfou!ftubcmjtift!bddpvoujoh!sfrvjsfnfout!gps!joufsftu!dptu!jodvssfe!cfgpsf!uif!foe!pg!b!dpotusvdujpo!qfsjpe/! <br />Tvdi!joufsftu!dptu!jodmveft!bmm!joufsftu!uibu!qsfwjpvtmz!xbt!bddpvoufe!gps!jo!bddpsebodf!xjui!uif!sfrvjsfnfout!pg! <br />qbsbhsbqit!6—33!pg!Tubufnfou!Op/!73-!Dpejgjdbujpo!pg!Bddpvoujoh!boe!Gjobodjbm!Sfqpsujoh!Hvjebodf!Dpoubjofe!jo!Qsf. <br />Opwfncfs!41-!2:9:!GBTC!boe!BJDQB!Qspopvodfnfout-!xijdi!bsf!tvqfstfefe!cz!uijt!Tubufnfou/!Uijt!Tubufnfou! <br />sfrvjsft!uibu!joufsftu!dptu!jodvssfe!cfgpsf!uif!foe!pg!b!dpotusvdujpo!qfsjpe!cf!sfdphoj{fe!bt!bo!fyqfotf!jo!uif!qfsjpe!jo! <br />xijdi!uif!dptu!jt!jodvssfe!gpsgjobodjbm!tubufnfout!qsfqbsfe!vtjoh!uif!fdpopnjd!sftpvsdft!nfbtvsfnfou!gpdvt/!Bt!b! <br />sftvmu-!joufsftu!dptu!jodvssfe!cfgpsf!uif!foe!pg!b!dpotusvdujpo!qfsjpe!xjmm!opu!cf!jodmvefe!jo!uif!ijtupsjdbm!dptu!pg!b!dbqjubm! <br />bttfu!sfqpsufe!jo!b!cvtjoftt.uzqf!bdujwjuz!ps!foufsqsjtf!gvoe/ <br />Uijt!Tubufnfou!bmtp!sfjufsbuft!uibu!jo!gjobodjbm!tubufnfout!qsfqbsfe!vtjoh!uif!dvssfou!gjobodjbm!sftpvsdft!nfbtvsfnfou! <br />gpdvt-!joufsftu!dptu!jodvssfe!cfgpsf!uif!foe!pg!b!dpotusvdujpo!qfsjpe!tipvme!cf!sfdphoj{fe!bt!bo!fyqfoejuvsf!po!b!cbtjt! <br />dpotjtufou!xjui!hpwfsonfoubm!gvoe!bddpvoujoh!qsjodjqmft/ <br />5 <br />149 <br />