Demystifying Deferrals: What They Are, What They Mean, and Why They Are Important

Deferrals in governmental accounting, though unfamiliar to some, are essential in conveying vital information about a government's financial stability. This article serves to clarify the concept by explaining what deferrals are, how they originated, their importance, the types required by the GASB, and how they are reported. Download this valuable resource to serve as a reference as you explore the significant role of deferrals in understanding a government's financial health.