ACC380_Week2_Assignment

ACC380_Week2_Assignment - GASB 1 GASB: Current Issues GASB...

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GASB 1 GASB: Current Issues
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GASB 2 GASB: Current Issues The Governmental Accounting Standards Board, or GASB, is the primary standard setting board as well as the official source of GAAP for state and local governments. GASB is currently working on several projects in varying stages of completion. These current projects address important issues such as conceptual framework for governmental financial reporting, and financial reporting requirements for government combinations. The outcome of these current issues will have a great impact on the financial reporting of governmental agencies. The conceptual framework project currently being deliberated by GASB is a particularly important issue. Conceptual framework are the basic guidelines used to set future standards, this would be at the core of future GASB decisions. The GASB conceptual framework would identify criteria used to determine if and when information should be reported on financial statements. Historically, GASB has modeled its conceptual framework on that of other standard
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This note was uploaded on 08/14/2011 for the course ACC 380 taught by Professor Any during the Spring '11 term at Ashford University.

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ACC380_Week2_Assignment - GASB 1 GASB: Current Issues GASB...

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