GASB has proposed major changes to the concept statements for recognition. The proposal further develops the concept of the short-term financial resources measurement focus. It makes changes to these concepts from the prior preliminary views document.

Comments are due Feb. 26, 2021. Address comments to  the  Director  of  Research  and  Technical  Activities,  Project No. 3-20, and email to

GASB Exposure Draft – Recognition of Elements of Financial Statements”:

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