is a project of the non-profit Financial Accounting Foundation in Norwalk, Connecticut; its Generally Accepted Accounting Principles (GAAP) have the effective force of law in most states and credit rating agencies often insist upon them when rating public bonds.
has always been concerned that the costs of complying with financial reporting requirements for OPEB not discourage smaller employers from offering OPEB to their employees.
68, institutions will have to report a liability for the entire underfunded status of the plan.
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
Now is the time to evaluate the impact of GASB
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.
CORRECTION TO STORY ON GASB
PENSION IMPLEMENTATION DELAY
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.
Unless otherwise specified, pronouncements of the GASB
apply to financial reports of all state and local governmental entities, including general purpose governments, public benefit corporations and authorities, public employee retirement systems, utilities, hospitals and other healthcare providers, and colleges and universities.
Allen was appointed by the Board of Trustees of the Financial Accounting Foundation, which is responsible for selecting the members, funding, and overseeing the GASB
, the Financial Accounting Standards Board and their Advisory Councils.
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