SAN FRANCISCO - The Government Accounting Standards Board last week issued an exposure draft on new accounting standards for bankrupt municipalities.

The draft - titled "Accounting and Financial Reporting for Chapter 9 Bankruptcies" - would establish standards for reporting liabilities that have been reduced by a bankruptcy court.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.