The Governmental Accounting Standards Board (GASB) is the source of generally accepted accounting principles (GAAP) used by state and local governments in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. 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 The Financial Accounting Standards Board (FASB) is a private standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Secur ...

, and it funds both organizations. Its mission 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'', ''Concept Statements'' and ''Implementation Guides'' — defining GAAP for state and local governments since 1984. GAAP for the Federal government is defined by the Federal Accounting Standards Advisory Board. In January 2020, GASB appointed Joel Black to succeed David Vaudt as the chair. Black is also partner-in-charge of Mauldin & Jenkins LLC.

References

External links

GASB Official Website

GASB 45 for the Masses--Tips for Small Employers to Comply with GASB 45
{{Webarchive, url=https://web.archive.org/web/20110707223444/http://benefitslink.com/pr/detail.php?id=42852 , date=2011-07-07 Accounting organizations Self-regulatory organizations in the United States Accounting standards in the United States

See also

References

External links