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Topic: Governmental Accounting Standards Board

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	Governmental accounting: who's in charge?
		GASB followed with the adoption of a project on the applicability of FASB 95 to state and local governments and issued an exposure draft in November 1988, which differs from the FASB standard.
		It states: "Generally accepted accounting principles applicable to separately issued general purpose financial statements of certain entities or activities in the public sector should be guided by standards of the FASB except in circumstances where the GASB has issued a pronouncement applicable to such entities or activities.
		The GASB, however, would be "...responsible to promulgate, only for those entities that are government-owned, requirements to present such additional information as the GASB determines is necessary in the interest of public accountability." This conclusion, however, was not a consensus.
	www.nysscpa.org /cpajournal/old/07505202.htm (2545 words)

	Governmental Accounting Standards Board - Wikipedia, the free encyclopedia
		The Governmental Accounting Standards Board (GASB) is currently the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States of America.
		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.
	en.wikipedia.org /wiki/Governmental_Accounting_Standards_Board (201 words)

	Saxe Lectures (1985): Ives, Martin Governmental Accounting Standards Board.
		Since the fathers of governmental accounting were concerned with the stewardship aspect of fixed assets, they did provide for record-keeping concerning fixed assets, but the record-keeping was tucked away in a memorandum set of accounts, referred to as the fixed asset group of accounts.
		Governmental fixed assets, I believe, can be conceived of as embodiments of service capacity, having utility over a period of time in relation to their life cycle cost, including the cost of repair and replacement necessary to keep the asset functional.
		The governmental funds that account for the results of the day-to-day operations of government should be presented on a consolidated basis, with activities financed by taxes and other general revenues segregated from those that are financed by user charges; this financial statement should be followed immediately by data presented on a disaggregated basis.
	newman.baruch.cuny.edu /DIGITAL/saxe/saxe_1984/ives_85.htm (5566 words)

	GASB 34 - Governmental Accounting Standards Board Statement 34
		The Governmental Accounting Standards Board (GASB) was created in 1984 as an independent, professional body to establish standards of accounting and financial reporting applicable to state and local governmental entities.
		GASB establishes the standards of state and local governmental accounting and financial reporting.
		GASB standards are officially recognized as authoritative by the American Institute of Certified Public Accountants and by State law (NRS 353.3245).
	www.nevadadot.com /about/GASB34 (196 words)

	Governmental Accounting Standards Board \| Encyclopedia of Business and Finance
		The Governmental Accounting Standards Board (GASB) was organized in 1984 under the auspices of the Financial Accounting Foundation to establish financial accounting and reporting standards for state and local government entities.
		GASB's mission is to establish and improve standards of state and local governmental accounting and financial reporting that will (1) result in useful information for users of financial reports and (2) guide and educate the public, including issuers, auditors, and users of those financial reports.
		GASB specifically evaluates similarities of special entities and of their activities and transactions in both the public and private sectors, and the need, in certain instances, for comparability with the private sector.
	www.bookrags.com /other/business/governmental-accounting-standards-b-ebf-01.html (1135 words)

	Financial Accounting Standards Board - Wikipedia, the free encyclopedia
		The FASB's mission for the private sector is similar to that of the Governmental Accounting Standards Board (GASB) for local and state governments in the United States.
		The FASB was created in 1973, replacing the Accounting Principles Board and the Committee on Accounting Procedure of the American Institute of Certified Public Accountants (AICPA).
		The SEC designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. Before the present structure was created, financial accounting and reporting standards were established first by the Committee on Accounting Procedure of the AICPA (1936–1959) and then by the AICPA Accounting Principles Board (1959–73).
	en.wikipedia.org /wiki/Financial_Accounting_Standards_Board (479 words)

	Measuring with Government Accounting Standards (Site not responding. Last check: 2007-10-27)
		Prior to GASB 34, state and local government financial transactions were reported and accounted for through the use of funds established for specific purposes.
		Since account groups are self-balancing, as are funds, a debit entry was made in the account group to recognize the amount to be provided for repayment of the debt.
		Governmental activities and business-type activities of the governmental entity are presented in columnar format.
	www.tncpa.org /Journal/articles/measuringGASB34.htm (2422 words)

	FASAB:FASAB Homepage
		The mission of the FASAB is to promulgate federal accounting standards after considering the financial and budgetary information needs of citizens, congressional oversight groups, executive agencies, and the needs of other users of federal financial information.
		Accounting and financial reporting standards are essential for public accountability and for an efficient and effective functioning of our democratic system of government.
		Thus, federal accounting standards and financial reporting play a major role in fulfilling the government's duty to be publicly accountable and can be used to assess (1) the government's accountability and its efficiency and effectiveness, and (2) the economic, political, and social consequences of the allocation and various uses of federal resources.
	www.fasab.gov (193 words)

	Governmental Accounting
		The basic concepts presented in the Accounting Concepts section are also applied in governmental accounting.
		There are basically three groups of funds in governmental accounting; governmental funds, proprietary funds, and fiduciary funds.
		The measurement focus in governmental accounting is on the sources and uses of financial resources.
	www.das.state.ne.us /accounting/nis/am002.htm (548 words)

	Implementation Of Governmental Accounting Standards Board Statement No. 34 (GASB 34)
		GASB 34 may be the largest transformation ever in school district financial reporting.
		GASB is the acronym for the Governmental Accounting Standards Board.
		GASB No. 34 is a required financial reporting model, not a change in accounting method.
	www.state.nj.us /njded/finance/fp/gasb34/intro.shtml (713 words)

	Governmental Accounting Executive Committees' Comment on Exposure Draft (Site not responding. Last check: 2007-10-27)
		The Governmental Accounting Executive Committee of the Illinois CPA Society (“Committee”) is pleased to comment on the preliminary views on major issues related to Accounting and Financial Reporting for Pollution Remediation Obligations.
		Historically, accounting principles generally accepted in the United States of America state that costs related to an asset which are incurred after its acquisition are added to the cost of the asset if they provide future service potential.
		The Governmental Accounting Executive Committee of the Illinois CPA Society (the Committee) is composed of sixteen technically qualified, experienced members appointed from public accounting and government.
	www.icpas.org /icpas/pspr/comment133.asp (676 words)

	Implementation Of Governmental Accounting Standards Board Statement No. 34 (GASB 34)
		Governmental funds will continue to be reported on a modified accrual basis and will have a balance sheet and statement of revenues, expenditures and changes in fund balance.
		Although the basic accounting for a specific trust is not likely to change, the district will need to distinguish between the permanent funds referred to in the preceding paragraph and the fiduciary funds.
		Since the focus of the GASB Statement 34 is on financial reporting requirements, the department anticipates that the effects on daily business operations in school districts will be minimal.
	www.state.nj.us /njded/finance/fp/gasb34/gasb34.shtml (1766 words)

	SurfWax: News, Reviews and Articles On Governmental Accounting Standards
		The new estimate was required by the Governmental Accounting Standards Board, a not-for-profit organization that establishes the financial accounting and reporting standards for state and local governments.
		And now the accounting rulemaker for the public sector, the Governmental Accounting Standards Board, says it is time for every government to do what Duluth has done: to come to grips with the total value of its promises, and to report it to their taxpayers and bondholders...
		Because of a new federal requirement by the Governmental Accounting Standards Board, cities and counties are required to conduct financial accounting for capital assets and infrastructures.
	news.surfwax.com /accounting/files/Governmental_Accounting_Standards.html (3238 words)

	Governmental Accounting Standards Board Statement 34: Perceptions of Texas Finance Officers
		Their efforts to improve the reporting standard, known as Generally Accepted Accounting Principle (GAAP), have met considerable resistance in the past.[1] One of which is the focus of this research.
		Statement 34 issued by the Governmental Accounting Standards Board (GASB) has caused uproar among public finance officials all over the nation.[2] Statement 34 introduced one important concept to the public sector, which is operational accountability.
		The standards set by the GASB become the Generally Accepted Accounting Principle in the public sector, otherwise known as GAAP (Wilson and Kattelus 4).
	ecommons.txstate.edu /arp/47 (492 words)

	Financial Accounting Standards
		Accounting standards are needed so that financial statements will fairly and consistently describe financial performance.
		Without standards, users of financial statements would need to learn the accounting rules of each company, and comparisons between companies would be difficult.
		In 1984, the Governmental Accounting Standards Board (GASB) was formed to set standards for the financial reports of state and local government.
	www.quickmba.com /accounting/fin/standards (518 words)

	Executive summary of GASB pronouncements. (Governmental Accounting Standards Board)
		The Governmental Accounting Standards Board (GASB) has issued 13 statements, a concept statement, and a codification of accounting standards for government since it was created in 1984.
		This standardized pension obligation measure is independent of the actuarial funding measure.
		Governmental colleges and universities and other governments that use specialized industry reporting principles should not change accounting and reporting for depreciation of capital assets as a result of SFAS 93.
	www.luca.com /cpajournal/old/10755284.htm (1218 words)

	Overview - Government Accounting Standards (CA Dept of Education) (Site not responding. Last check: 2007-10-27)
		The statement establishes a new financial reporting model for state and local governments and is the biggest change in the history of public-sector accounting.
		GASB developed the new requirements to make annual reports more comprehensive and easier to understand and use.
		The primary objective of GASB 34 as defined in the Introduction to the Statement is "to enhance the understandability and usefulness of the general purpose external financial reports.
	www.cde.ca.gov /fg/ac/as/overview.asp (235 words)

	Durable Asset Tags for Compliance in Governmental Accounting Standards Board (GASB) Statement 34, 35 'Life of Asset' ...
		GASB standards embodied within "Statement 34" require public infrastructure assets such as roads, bridges, tunnels, water and sewer systems, and dams, be reported together with related depreciation or preservation costs.
		The GASB is an independent, not-for-profit organization formed in 1984 to establish and improve financial accounting and reporting standards for state and local governments.
		Seven members are drawn from the Board's diverse constituency, including preparers and auditors of government financial statements, users of those statements and members of the academic community.
	www.ereleases.com /pr/20060315006.html (417 words)

	Accounting Standards
		The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.
		Section 103 of the Sarbanes-Oxley Act of 2002 directs the Board to establish auditing and related attestation, quality control, ethics, and independence standards and rules to be used by registered public accounting firms in the preparation and issuance of audit reports as required by the Act or the rules of the Securities and Exchange Commission.
		In those inspections, the Board assesses compliance with the Act, the rules of the Board, the rules of the Securities and Exchange Commission, and professional standards, in connection with the firm’s performance of audits, issuance of audit reports, and related matters involving issuers.
	www.lib.umn.edu /libdata/page_print.phtml?page_id=1044 (1301 words)

	Hexagon Directory - Business > Accounting
		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
		Environmental Accounting is a broad term that is used in several different contexts, such as management accounting, financial accounting, and national accounting.
		The Australian Accounting Standards Board (the Board) is responsible for developing and issuing AASB Accounting Standards (AASBs) and the “care and maintenance” of the body of Standards
	www.hexadir.com /Business/Accounting (498 words)

	Governmental Accounting Standards Board, Debt Consolidation St Petersburg, Florida Taxes, Stock Broker, Business? You ... (Site not responding. Last check: 2007-10-27)
		Free affiliate software A probate case is filed in the county of the decedent's legal residence at the time of his or her death.
		Accounting Governmental Board Standards Usually, the first step is taken by the "executor"- the person named by the decedent in his or her will to process the estate- or another interested person who has the original will.
		Accounting certification This appointment gives him or her full authority to handle the decedent's accounts.
	business.agtail.com /business/governmental-accounting-standards-board.html (296 words)

	FASB: James M. Williams Named to the Governmental Accounting Standards Board
		The appointment was made by the Financial Accounting Foundation’s Board of Trustees, which oversees the activities of the GASB and Financial Accounting Standards Board (FASB).
		Its seven members are drawn from the Board's diverse constituency, including preparers and auditors of government financial statements, users of those statements and members of the academic community.
		The Financial Accounting Foundation is responsible for funding, overseeing and selecting the members of the GASB and the FASB.
	www.fasb.org /news/nr012102.shtml (417 words)

	Unravelling the confusion caused by GASB, FASB accounting rules - Governmental Accounting Standards Board; Financial ... (Site not responding. Last check: 2007-10-27)
		Proprietary-fund accounting includes enterprise funds and internal-service funds, both of which are outside the typical governmental healthcare environment.
		In November 1993, a GASB staff paper titled "Applicability of GASB Standards" was jointly transmitted by FASB and GASB to the trustees of the Financial Accounting Foundation (FAF).
		The prior hierarchy for governmental entities that use proprietary-fund accounting was that FASB statements would automatically apply in the absence of an applicable GASB pronouncement.
	www.findarticles.com /p/articles/mi_m3257/is_n11_v48/ai_16443646 (664 words)

	SEC seeks closer regulatory relationship with GASB - Governmental Accounting Standards Board Journal of Accountancy - ... (Site not responding. Last check: 2007-10-27)
		Now, the SEC is interested in acquiring the same type of statutory authority to establish standards for accounting and disclosure for state and local governments.
		Roberts said one solution to the problems of municipal securities disclosure would be for Congress to pass legislation that would give the SEC the express authority to set the accounting standards for issuers of these instruments.
		Responding to Roberts' remarks, james F. Antonio, who served as GASB chairman from its creation in 1984 until June 31, 1995, told the Journal that the GASB must continue to fulfill its responsibility for making improvements in state and local government financial reporting independent of the federal government.
	www.findarticles.com /p/articles/mi_m6280/is_n1_180/ai_17322324 (514 words)

	FASB and GASB define government. (Financial Accounting Standards Board, Governmental Accounting Standards Board)(Brief ...
		At an unusual joint meeting of the Financial Accounting Standards Board and the Governmental Accounting Standards Board in March, the two bodies agreed to a definition of government, which is expected to be especially helpful to health care organizations and colleges and universities.
		Institute of CPAs audit and accounting guides Health Care Organizations and Not-for-Organizations, expected to be published by the end of July.
		Beresford praised the smooth way the FASB, GASB and Institute worked together to create the definition and said that although there were no issues before either board requiring another joint meeting, the staffs would continue as necessary to work behind the scenes.
	www.allbusiness.com /government/594644-1.html (592 words)

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