Research Case – GASB

Examine the Governmental Accounting Standards Board website (www.gasb.org):

Prepare a brief report about its mission, standard–setting process, and board composition, and the role of the Governmental Accounting Standards Advisory Council. Can you determine how to obtaina copy of the most recent Codification of Governmental Accounting and Financial ReportingStandards? What would it cost to purchase or access this publication?

Answer preview

The Government Accounting Standard Board (GASB) mission is to establish and improve accounting and financial reporting of the state and local government. The purpose of the quality standards is to act as a guide and education tool to the users of their financial reports like the auditors, issuers, members of the public among others. The GABS standard-setting process involves a series of steps that bring together different stakeholders comprehensively and independently taking their views all in the oversight of the Financial Accounting Foundation‘s Board of Trustee…

 

(300 words)