GASB Makes Changes to Unfunded Pension Liabilities Reporting

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The Governmental Accounting Standards Board (GASB) voted to approve two new standards that will substantially improve the accounting and financial reporting of public employee pensions by state and local governments by requiring the government entity to recognize the unfunded pension benefit obligations as a liability in their financial statements. GASB Makes Changes to Unfunded Pension Liabilities Reporting


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Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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