The board responsible for issuing accounting standards for state and local governments.
A standard-setting body, associated with the Financial Accounting Foundation and comparable to the Financial Accounting Standards Board. GASB prescribes standard accounting practices for governmental units in maintaining their financial records and releasing financial data to the public. Compare: FINANCIAL ACCOUNTING STANDARDS BOARD.
Establishes and improves accounting and financial reporting standards for government entities.
Group that sets the standards for sound govern- mental financial management.
The ultimate authoritative accounting and financial reporting standard-setting body for state and local governments. The GASB was established in June 1984 to replace the National Council on Governmental Accounting (NCGA).
Group that has authority to establish standards of financial reporting for all units of state and local government.
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. As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization.
