Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 13

Go to the website www.gasb.org and click on "Projects" included in the list that runs across the top of the page. Then click on "Current Projects." Click on one of the current projects that is listed. Read the sections that are titled "Project Plan" and "Current Developments."
Required
Write a memo to explain the reason that this issue has been chosen for study by GASB. Describe the progress that has been made to date as well as the potential impact on state and local government accounting.