Information about Governmental Accounting Standards Board
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.
The GASB is subject to oversight by the Financial Accounting Foundation (FAF), which selects the members of the GASB and the Financial Accounting Standards Board, and funds both organizations.
The mission of the Governmental Accounting Standards Board is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports.
The GASB has issued Statements, Interpretations, Technical Bulletins, and Concept Statements defining GAAP for state and local governments since 1984. GAAP for the Federal government is defined by the Federal Accounting Standards Advisory Board.
The GASB is subject to oversight by the Financial Accounting Foundation (FAF), which selects the members of the GASB and the Financial Accounting Standards Board, and funds both organizations.
The mission of the Governmental Accounting Standards Board is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports.
The GASB has issued Statements, Interpretations, Technical Bulletins, and Concept Statements defining GAAP for state and local governments since 1984. GAAP for the Federal government is defined by the Federal Accounting Standards Advisory Board.
See also
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Accountancy (profession) or accounting (methodology) is the measurement, statement or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies,
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In the U.S., generally accepted accounting principles, commonly abbreviated as US GAAP or simply GAAP, are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly-traded and privately-held
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Motto
"In God We Trust" (since 1956)
"E Pluribus Unum" ("From Many, One"; Latin, traditional)
Anthem
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"In God We Trust" (since 1956)
"E Pluribus Unum" ("From Many, One"; Latin, traditional)
Anthem
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Financial Accounting Standards Board
Founded 1973
Headquarters Norwalk, Connecticut
Slogan Serving the investment public through transparent information resulting from high-quality financial reporting standards, developed in an independent, private-sector, open due
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Founded 1973
Headquarters Norwalk, Connecticut
Slogan Serving the investment public through transparent information resulting from high-quality financial reporting standards, developed in an independent, private-sector, open due
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20th century - 21st century
1950s 1960s 1970s - 1980s - 1990s 2000s 2010s
1981 1982 1983 - 1984 - 1985 1986 1987
Year 1984 (MCMLXXXIV
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1950s 1960s 1970s - 1980s - 1990s 2000s 2010s
1981 1982 1983 - 1984 - 1985 1986 1987
Year 1984 (MCMLXXXIV
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Federal Accounting Standards Advisory Board
Agency overview
Formed October 1990
Headquarters Washington, DC
Agency Executives Tom L.
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Agency overview
Formed October 1990
Headquarters Washington, DC
Agency Executives Tom L.
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The Governmental Accounting Standards Board Statements (GASB Statements in short) are issued by GASB to set generally accepted accounting principles (GAAP) for state and local governments in the United States of America.
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