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The Governmental Accounting Standards Board Statements (GASB Statements or GASBS) are issued by GASB to set generally accepted accounting principles (GAAP) for state and local governments in the United States of America. These statements are the most authoritative source for governmental GAAP.
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. [1] As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.
At the federal level, the Federal Accounting Standards Advisory Board (FASAB) sets forth the accounting standards to follow. Similarly, there is the Governmental Accounting Standards Board (GASB) for state and local level government.
State and local governments, with conforming changes as of March 1, 2012: 53-29: 2013: State and local governments, new edition as of March 1, 2013: 53-30: 2014: State and local governments, new edition as of March 1, 2014: 53-31: 2015: State and local governments, new edition as of March 1, 2015: 53-32: 2016: State and local governments, new ...
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States. The Financial Accounting Standards Board (FASB) publishes and maintains the Accounting Standards Codification (ASC ...
Pages in category "United States Generally Accepted Accounting Principles" The following 38 pages are in this category, out of 38 total. This list may not reflect recent changes .
The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to improve federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. [3]
For State or Local governmental accounting in the United States with reference to public capital or infrastructure a capital asset is defined as any asset used in operations with an initial useful life extending beyond one reporting period. [6] Generally, government managers have a "stewardship" duty to maintain capital assets under their control.