Bloomberg Tax
May 25, 2023, 7:10 PM

Accounting Rules for Roads, Sewers Eyed by US Standards Body

Nicola M. White
Nicola M. White

State and local governments could get formal rules on how to account for building and maintaining roads, bridges, sewer systems, and other infrastructure assets in their financial statements, the US governmental accounting standard-setter announced Thursday.

The Governmental Accounting Standards Board’s project will tackle how infrastructure assets should be recognized and measured so financial analysts, bondholders, taxpayers, and government watchdogs can assess the long-term and short-term capital needs of a state or city.

GASB also wants to evaluate whether to require additional information about maintenance and preservation of these big-ticket assets in government financial statements.

  • Many state and local governments currently ...

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