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.
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It is required to be included in RSI of generally accepted accounting principle financial statements issued by pension plans that operate through trusts that meet the requirements put forth by GASB (a GASB PEB trust).
Mark Furlong, VP of IQE's IR business unit, said, "We are pleased to have received these new orders as they reflect the high quality of the antimonide substrate products that we supply as well as the confidence that our customers have in Galaxy Compound Semiconductors and Wafer Technology to support their longer term requirements for a wide range of InSb and GaSb substrate materials up to 5inch in diameter."
Under GASB 68, institutions will have to report a liability for the entire underfunded status of the plan.
The GASB is the independent, not-for-profit organisation formed in 1984 that establishes and improves financial accounting and reporting standards for state and local governments.
Lei et al., "Investigation of the anisotropic strain relaxation in GaSb islands on GaP," Journal of Applied Physics, vol.
Depending on your perspective, GASB has either moved toward that reality or is continuing to resist actuarial gravity.
The requirements in this Statement will improve financial reporting by contributing to the GASB's efforts to codify all GAAP for state and local governments so that they derive from a single source.
GASB's development of guidelines for voluntary reporting of performance information has been a source of contention for state and local governments.
It appears that the agencies that tackled GASB 34 compliance earlier in the game are the best off today.
Represent the foundation (FASB and GASB) with its external constituents--SEC, Congress, media--for the primary purpose of voicing the importance of private standard-setting in the public arena.
It's hard to picture accountants as bomb-throwers, but the GASB manifesto, which includes a call for accrual accounting, could have radical implications for the federal government.
A proposed implementation guide from GASB has prompted criticism from several groups that question how the board expects state and local governments to follow its disclosure guidance for tax abatements.