[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-184413-105":59,"doc-detail-184413-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","financial-reporting-gasb-54-comparison","Financial Reporting - GASB 54 Comparison","","This document provides a comparative analysis of financial reporting practices before and after the implementation of GASB 54. It details how specific financial elements such as prepaid expenses, designations, encumbrances, fund balance projected to be used in the subsequent year’s budget, and working capital are treated under the previous and current accounting standards. Key changes include the categorization of prepaid expenses as NONSPENDABLE, the requirement for written authorization for individuals assigning fund balances, and the reporting of encumbrances within restricted, committed, or assigned categories. The document also highlights the shift in terminology from “designation” to “assignment” for fund balance projected to be used in the subsequent year’s budget, and the reclassification of working capital as unassigned with footnote disclosure. The implications of GASB 54 are crucial for governmental entities to ensure accurate financial reporting and stewardship of public funds, aiming for greater transparency and accountability in fund balance management. Understanding these changes is vital for financial officers, auditors, and policymakers to navigate the evolving landscape of governmental accounting standards and maintain compliance with regulatory requirements for clearer financial presentation and accountability.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/financial-reporting-gasb-54-comparison/184413/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/financial-reporting-gasb-54-comparison/184413.png","ImageObject",300,407,{"name":92,"@type":93},"Taylor Morgan","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-17","2026-09-02",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is the primary impact of GASB 54 on prepaid expenses?","Question",{"text":113,"@type":114},"Before GASB 54, accounting policy dictated whether prepaid expenses were shown as reserved. After GASB 54, they are categorized as NONSPENDABLE.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How did the authorization process for fund balance assignments change with GASB 54?",{"text":118,"@type":114},"Previously, designations could be created by management, such as the finance director. Post-GASB 54, an individual authorized to assign fund balances needs specific written authorization.",{"name":120,"@type":111,"acceptedAnswer":121},"What is the new reporting standard for encumbrances under GASB 54?",{"text":122,"@type":114},"Previously reported as a reserve for encumbrances, after GASB 54, encumbrances are reported within the restricted, committed, or assigned categories.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},184413,1788359199,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":66,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":130,"read_time":144,"preview_page_count":4},1099523885336,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","cbCaitcTbcQCi0YJ","https://ap.wps.com/l/cbCaitcTbcQCi0YJ","pdf",658137,43,"English","# Before GASB 54\n## Prepaid expenses\n## Designations\n## Encumbrances\n## Fund balance projected to be used in subsequent year's budget\n## Working capital\n\n# After GASB 54\n## Prepaid expenses\n## Designations\n## Encumbrances\n## Fund balance projected to be used in subsequent year's budget\n## Working capital","[{\"question\":\"What is the primary impact of GASB 54 on prepaid expenses?\",\"answer\":\"Before GASB 54, accounting policy dictated whether prepaid expenses were shown as reserved. After GASB 54, they are categorized as NONSPENDABLE.\"},{\"question\":\"How did the authorization process for fund balance assignments change with GASB 54?\",\"answer\":\"Previously, designations could be created by management, such as the finance director. Post-GASB 54, an individual authorized to assign fund balances needs specific written authorization.\"},{\"question\":\"What is the new reporting standard for encumbrances under GASB 54?\",\"answer\":\"Previously reported as a reserve for encumbrances, after GASB 54, encumbrances are reported within the restricted, committed, or assigned categories.\"}]","Financial Reporting - GASB 54 Comparison | PDF",108]