CPA Voice: GASB approves financial reporting model improvements

GASB Statement No. 103, Financial Reporting Model Improvements was issued in April 2024 to modernize the governmental financial reporting model in the U.S. 

“Its requirements are designed to enhance the decision usefulness of governmental financial reports, better assess financial health and accountability and address certain application issues,” writes Laura Hay, CPA, CAE, executive vice president of OSCPA in the September/October issue of CPA Voice.  

Key improvements include enhancing management’s discussion and analysis, budgetary comparison information, major component unit information and more. Read the entire article available online now.  
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