GASB has issued an exposure draft that will address implementation issues in GASB 84 and component units while also addressing accounting and financial reporting for Section 457 plans.

This is a very important ED, but it requires a quick turnaround; comments are due by April 10 to assist in distributing these updates in a timely manner.

GASB Exposure Draft: “Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans”

Comments should be addressed to the Director of Research and Technical Activities, Project No. 3-38, and emailed to

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SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members. Melisa was a speaker on audit topics at SCACPA’s 2019 Fall Fest and Spring Splash accounting conferences. She also takes part in many SCACPA seminars and rebroadcasts.

With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.

Read the latest Melisa Galasso A&A Interview: Private Company Council Member Jeremy Dillard and Standard-Setting Advocacy