Summary
Guided by their mission to establish and improve standards of state and local governmental accounting and financial reporting, the Governmental Accounting Standards Board (GASB) continued to make progress on their technical agenda during the past six months. GASB issues individual implementation guides for its more complex statements. These guides are presented in question-and-answer format, often contain additional illustrations beyond those in the original statement, and reprint the standards section of the pertinent statement. In 2000, GASB began to publish a series of guides to governmental financial reports specifically designed to be helpful, non-technical and broadly accessible to anyone from the government finance novice to the longtime public manager. Up-to-date information about GASB's activities can always be found at their Web site, www.gasb.org. In a sense, the issuance of a GASB Statement or other pronouncement is not the end of GASB's work, but just the beginning.
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Extract
Issuing Standards Is Just One Part of Gasb's Work
Guided by our mission to establish and improve standards of state and local governmental accounting and financial reporting, the Governmental Accounting Standards Board (GASB) continued to make progress on ourtechnical agenda during the past six months.
Standards-SettingGASB Statement 47, Accounting for Termination Benefits, was issued in late June. An exposure draft (ED) was issued in September on the Sales and Pledges of Receivables and Futur...See the full content of this document
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