Government Accounting Standards Board

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Government Accounting Standards Board

In the United States, a non-governmental body charged with establishing and maintaining generally accepted standards for professional accountants who work in state and local governments. Founded in 1984, the GASB has published a variety of rules and clarifications on how government accounting ought to be done in the United States. Its primary purpose is to govern the fundamentals of how accounting is conducted. For example, it has published guidelines on how to report a municipality's cash flows.
References in periodicals archive ?
Under GASB 68, institutions will have to report a liability for the entire underfunded status of the plan.
GASB issues Statement 34 adopting the new financial reporting model.
The letter from the eight associations also states that even though GASB's proposed guidelines are for voluntary reporting, and therefore not required, that GASB's status as an authoritative standards-setting body makes any official action by GASB quasi-authoritative.
Now is the time to evaluate the impact of GASB Statement No.
Create a permanent funding mechanism for GASB (an area he'll work on with GASB Chairman Bob Attmore).
During Bob's tenure, the GASB has tackled such important - and difficult - accounting issues as pensions and other retirement benefits, derivatives, municipal bankruptcies, and fund balance reporting with professionalism and a regard for the concerns of every affected party.
In such cases, it may be difficult for a governmental employer to obtain the information needed to comply with GASB Statement No.
After six public hearings and 2 1/2 years of deliberations, GASB released its new reporting model on June 30, 1999.
SEAs, or performance measurements, are tied directly to budgeting and political decision making and while the committee agreed that they are valid and necessary tools, GASB should not be the governing body that sets them.
This Statement supersedes paragraphs 6, 7, 8b, 12, 17, and 18 of NCGA Interpretation 8, Certain Pension Matters', and amends paragraph 5 of NCGA Interpretation 6, Notes to the Financial Statements Disclosure; paragraph 8 of GASB Statement No.
The Financial Accounting Foundation (FAF), the oversight body of the Governmental Accounting Standards Board (GASB), is seeking interested stakeholders who would like to be considered to participate in a post-implementation review (PIR) survey of GASB StatementNo.
In June 2015, the Governmental Accounting Standards Board (GASB) issued GASB Statement No.