TITLE

GASB Issues Concepts Statement 4 on Elements of Financial Statements

AUTHOR(S)
Loyd, D. Scot; Crawford, Michael A.
PUB. DATE
August 2007
SOURCE
Governmental GAAP Update Service;8/30/2007, Vol. 7 Issue 16, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article offers information on the recently issued Concepts Statement No. 4 (CS-4), Elements of Financial Statements. The CS-4 is the fourth statement issued by the Governmental Accounting Standards Board (GASB). It defines the basic building blocks of state and local government financial statements. It provides new definitions for assets, liabilities, deferred outflow of resources, deferred inflow of resources, net position, inflow of resources, and outflow of resources.
ACCESSION #
31220913

 

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