- Governmental Accounting Standards Board
The Governmental Accounting Standards Board (GASB) is currently the source of generally accepted
accountingprinciples (GAAP) used by State and Local governments in the United States of America. 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.
List of GASB Statements
* [http://www.gasb.org/ GASB Official Website]
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