While many items could be included in the top 10 accounting issues in utilities, these are common areas of accounting issues we’ve observed in utilities where even small adjustments can lead to stronger financial reporting and improved processes.

GASB Statement No. 103, titled "Financial Reporting Model Improvements," aims to enhance the clarity, consistency, and usefulness of financial reports for state and local governments. This statement introduces key changes that adds more details to financial statements that provides more information for the financial statement reader.