Comment on Elements of Financial Statement proposal.
GASB GASB Governmental Accounting Standards Board is seeking comment on its proposed fourth Concepts Statement, Elements of Financial Statement, which defines the seven elements of a financial statement, clarifying clar·i·fy
v. clar·i·fied, clar·i·fy·ing, clar·i·fies
v.tr.
1. To make clear or easier to understand; elucidate: clarified her intentions.
2. concepts of financial reporting.
[ILLUSTRATION OMITTED]
The proposal defines the elements of statements of financial position and resource flows materials.
Comments are due Nov. 17. For more, visit www.gasb.org/news/nr081406.html.
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