GASB has proposed its Exposure Draft that would improve the financial reporting model. The proposal includes changes to MD&A, extraordinary items, presentation of proprietary funds and implements the short-term financial resource measurement focus for governmental funds which was introduced in an ED earlier this month.

Comments are due Feb. 26, 2021. Comments should be addressed to the Director of Research and Technical Activities, Project No. 3-25, and emailed to

“GASB Exposure Draft: Financial Reporting Model Improvements”:

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 2020 Virtual 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