Consequently, broad public participation is encouraged in the accounting standard-setting process, which permits communication of all points of view and expressions of opinion at all stages of the process.
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.
(2) guide and educate the public, including issuers, auditors, and users of those financial reports.
The GASB offices are located at 401 Merritt 7, P.O. Box 5116, Norwalk, Connecticut 06856-5116.
Self Interest :) apex
John Clayton Thomas has written: 'Public participation in public decisions' -- subject(s): Public administration, Decision making, Citizen participation, Political participation 'Citizen, customer, partner' -- subject(s): Public administration, Citizen participation, Political planning, Public relations and politics
The foundation is responsible for selecting the seven members of GASB and its Advisory Council, funding their activities, and exercising general oversight.
To be objective and neutral in its decision making.
it builds self confidence
The right to participate in government is called the right to public participation. The right to public participation is often conceived of as a human right.
To review the effects of past decisions for appropriateness.
They Promote Jobs
Objective and neutral means freedom from bias, precluding GASB from placing any particular interest above the interests of the many who rely on the information contained in financial reports.