: Some items previously capitalized (such as debt issuance costs, excluding prepaid insurance) must now be recognized as expenses in the period incurred according to the GASB 65 Summary . Financial Statement Impact :
: Items like deferred revenue (e.g., property taxes received in advance) are reclassified as Deferred Inflows of Resources .
: Specific items previously called assets (like certain derivatives or service concession arrangements) now move to this category. baoufst-65-lfn-abzcqfclk-uupzc
Reporting entities, including those filing through the Michigan Treasury Online Filing system , must use these classifications to remain in compliance with Generally Accepted Accounting Principles (GAAP).
The string provided appears to be a garbled or encoded reference to , which deals with "Items Previously Reported as Assets and Liabilities." This standard is a fundamental part of local government financial reporting. Report: Implementation of GASB Statement No. 65 Core Objective : : Some items previously capitalized (such as debt
: GASB 65 alters how major funds are calculated by including these deferred elements in the percentage-based tests. Compliance for Local Governments :
To ensure consistency by limiting the use of the term "deferred" only to these specific categories. : 65 Core Objective : : GASB 65 alters
To reclassify certain financial statement elements as or deferred inflows of resources .