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GASB Statement No. 69 Government Combinations and Disposals of Government Operations

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Copyright 2016
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Understand the unique conditions present in government combinations and disposals addressed in GASB Statement No. 69. Historically, when combinations occurred in the governmental environment, the guidance of APB Opinion 16, Business Combinations was used, followed by FASB Statement No. 141, Business Combinations, later revised, and FASB Statement No. 164, Not-for-Profit Entities: Mergers and Acquisitions. These were developed for nongovernmental entities and therefore addressed situations that would not normally be present in a government combination and did not address conditions and circumstances normally would be present in government combinations. This topic helps government finance directors, accounting managers and auditors understand GASB Statement No. 69, Government Combinations and Disposals of Government Operations, which was written to improve financial reporting of the various types of government combinations. The topic explains how to distinguish between the different types of combinations and how to properly account for these transactions, including special considerations for capital assets as well as the required note disclosures. Additionally, this topic discusses reporting of disposals and provides examples of the most common types of combinations. This statement is effective for government combinations that occurred in financial reporting periods beginning after December 15, 2013.

Authors

Karen E. Kurtin, CPA, CFE, BKD, LLP

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