TITLE

GASB Research on the Use of Generally Accepted Accounting Principles

AUTHOR(S)
Loyd, D. Scot; Crawford, Michael A.
PUB. DATE
June 2008
SOURCE
Governmental GAAP Update Service;6/30/2008, Vol. 8 Issue 12, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article examines the use of generally accepted accounting principles (GAAP) for general purpose external financial reporting in state and local government, by the U.S. Governmental Accounting Standards Board. Seventy five percent of 50 states have laws that require governmental units to apply GAAP in their financial statements. About 13,594 counties, localities, and independent school districts follow GAAP. An undetermined number of governments are not applying GAAP.
ACCESSION #
34105255

 

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