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Is it true that GASB 34-compliant financial statements may contain line items that cannot be accommodated in the Financial Data Schedule formatted by the old software?

April 26, 2017accommodated contain Data financial financial statements GASB items line

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Is it true that GASB 34-compliant financial statements may contain line items that cannot be accommodated in the Financial Data Schedule formatted by the old software?

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Yes. For example, GASB 34 requires many PHAs to account for and report on assets which they may not have previously carried on their books. These assets will be reported separately on a new line on the FDS under the new release.