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When was the Governmental Accounting Standards Board established?
Wiki User
∙ 13y ago
The Governmental Accounting Standards Board (GASB) was organized in 1984 under the auspices of the Financial Accounting Foundation.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoIt was created to establish financial accounting and reporting standards for state and local government entities.
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What were the historical antecedents to the Financial Accounting Standards Board?
The first two standard-setting organizations in the United States were the Committee on Accounting Procedure (CAP), which was established in 1938, and the Accounting Principles Board (APB), which replaced the CAP in 1959
What board is responsible for accounting standards?
The Financial Accounting Standards Board (FASB) assumed responsibility for accounting standards and principles in 1973. It is authorized to amend existing rules and establish new ones.
Who is responsible for setting auditing standards for audits of publicly-traded companies?
PCOAB Public Company Accounting Oversight Board
By what measures are Financial Accounting Standards Board members insulated from external pressures?
five-year terms with a two-term maximum, by the requirements to end all past employment relationships, and by disclosure of and certain limitations on investments
Who has required analytical procedures for audits?
has required that analytical procedures be performed during all audits of financial statements. The Auditing Standards Board did so through the issuance of Statement on Auditing Standards (SAS) No. 56 in 1988
The Governmental Accounting Standards Board was created under the auspices of what organization?
The Governmental Accounting Standards Board was created under the auspices of the Financial Accounting Foundation.
Who sets accounting standards for the government?
If the entity is a state or local governmental unit, it is subject to the reporting standards and requirements of the Government Accounting Standards Board.
Who sets accounting reporting standards for the government?
If the entity is a state or local governmental unit, it is subject to the reporting standards and requirements of the Government Accounting Standards Board.
In what year was FAF organized?
The FAF is the Financial Accounting Foundation. The FAF oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board. It was organized in 1972 as an independent private sector organization.
When was FASAB established?
The Federal Accounting Standards Advisory Board (FASAB) was established in 1990.
What has the author Venita M Wood written?
Venita M. Wood has written: 'Auditing governmental financial statements' -- subject(s): Accounting, Auditing, Financial Accounting Foundation, Financial Accounting Foundation. Governmental Accounting Standards Board, Local finance, Public Finance, Standards, States
What is the regulatory bodies in accounting?
The regulatory bodies that govern accounting practices are Securities and Exchange Commission, the American Institute of Certified Public Accountants, the Financial Accounting Standards Board and the Governmental Accounting Standards Board. These regulatory bodies make sure companies file their accounting statements correctly.
What is GASB an abbreviation of?
The abbreviation GASB stands for Govermental Accounting Standards Board. The GASB is the generally accepted accounting principles in each state and throughout the United States.
What authority for compliance with GAAP has existed throughout the period of standard settings?
The Financial Accounting Foundation (FAF) is the private-sector organization with responsibility for the oversight, administration, and finances of the Financial Accounting Standards Board (FASB), the Governmental Accounting Standards Board (GASB), and their advisory councils, the Financial Accounting Standards Advisory Council (FASAC) and the Governmental Accounting Standards Advisory Council (GASAC). The FAF selects the members of the standard-setting Boards and Councils, and protects the independence of the Boards.
What does IASB establish?
Financial accounting and reporting standards recommended for use by businesses throughout the world are established by the International Accounting Standards Board (IASB).
Is the financial accounting standards advisory board the same as the federal accounting standards board?
The Financial Accounting Standards Board (FASB) is a private organization (within the Financial Accounting Foundation) that issues financial accounting and reporting standards for nongovernmental entities.
When was Financial Accounting Standards Board created?
Financial Accounting Standards Board was created in 1973.
