The Governmental Accounting Standards Board issued an implementation guide on Sept. 24 featuring questions and answers that further explain the requirements related to subsidies in Statement No. 103, Financial Reporting Model Improvements.
Implementation Guide No. 2026-1, Financial Reporting Model Improvements—Subsidies, contains seven new Q&As that address the application of GASB requirements under Statement 103 pertaining to subsidies.
The guide also includes amendments to Question 4.5 in Implementation Guide No. 2025-1, Implementation Guidance Update—2025, which is also related to subsidies.
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The GASB periodically issues new and updated guidance to assist state and local governments in applying U.S. GAAP to specific facts and circumstances that they encounter. The guidance is developed based on the following:
- Application issues raised during due process on GASB pronouncements;
- Questions the staff receives throughout the year; and
- Topics identified by members of the Governmental Accounting Standards Advisory Council and other stakeholders.
The guidance in implementation guides is cleared by the board and constitutes Category B GAAP, which is authoritative.
Photo credit: Governmental Accounting Standards Board
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