Episode 20 – GASB Statement 103 and Implementation Guide 2026-1 with Lisa Parker, GASB Senior Project Manager

In this episode of Bridging the GAAP, host Matt Broder speaks with Lisa Parker, GASB senior project manager, about GASB Statement No. 103, Financial Reporting Model Improvements, and Implementation Guide No. 2026-1, Financial Reporting Model Improvements—Subsidies. They discuss how Statement 103 builds on the financial reporting model established by Statement No. 34, Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments, why the GASB revisited that guidance, and how the scope of the project evolved. Lisa also explains the Statement’s targeted improvements to management’s discussion and analysis and proprietary fund statements, including the new guidance related to subsidies, and discusses what governments and practitioners should be doing to prepare for implementation.