56
Adoption of FASB Pronouncements
•
Retroactive adoption, except where GASB
34, paragraphs 146 and 307-309, grants
specific relief
–
APB 12 and 21
–
FASB 23
•
GASB 34 omnibus expected to change
application of FASB 34 to governmental
activities;
FASB 34 still applies to
proprietary funds