U.S. Governmental Accounting Standards Board
A U.S. Governmental Accounting Standards Board is a accounting standards board for U.S. state governments and U.S. local governments.
- AKA: GASB.
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- Counter-Example(s):
- See: Federal Accounting Standards Advisory Board, Generally Accepted Accounting Principles (United States), Financial Accounting Foundation, Financial Accounting Standards Board, GASB Blue Book.
References
2016
- (Wikipedia, 2016) ⇒ https://en.wikipedia.org/wiki/Governmental_Accounting_Standards_Board Retrieved:2016-6-3.
- The Governmental Accounting Standards Board (GASB) is the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States. As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.
The GASB is subject to oversight by the Financial Accounting Foundation (FAF), which selects the members of the GASB and the Financial Accounting Standards Board, and funds both organizations. The mission of the Governmental Accounting Standards Board is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports.
The GASB has issued Statements, Interpretations, Technical Bulletins, and Concept Statements defining GAAP for state and local governments since 1984. GAAP for the Federal government is defined by the Federal Accounting Standards Advisory Board.
- The Governmental Accounting Standards Board (GASB) is the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States. As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.
- (City Council of Barnstable, 2016b) ⇒ Town of Barnstable. (2016). “Town of Barnstable Adopted Operating Budget - 2017."
- QUOTE: Government accounting standards board (GASB): The ultimate authoritative on accounting and financial reporting standard-setting body for state and local governments.
2014
- (PA DCED, 2014) ⇒ PA DCED. (2014). “DCED Chart of Accounts for Municipalities, 5th edition.” In: Pennsylvania Department of Community and Economic Development (DCED) Library.
- QUOTE: Generally accepted accounting principles (GAAP) for governmental accounting and financial reporting established by the Governmental Accounting Standards Board (GASB) apply different basis for different types of funds as follows: