TITLE

GASB-20 and the Applicability of FASB Pronouncements to State and Local Governments

AUTHOR(S)
Loyd, D. Scot; Crawford, Michael A.
PUB. DATE
May 2008
SOURCE
Governmental GAAP Update Service;5/30/2008, Vol. 8 Issue 10, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the role of the U.S. Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB) in the promulgation of generally accepted accounting principles for governmental entities. FASB statements should be observed in preparing proprietary financial statements of governmental entities. For enterprise fund financial statements and enterprise fund information, the GASB-20 allows distinct options in accounting and financial reporting.
ACCESSION #
34105253

 

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