GASB issues Concepts Statement on Elements of Financial Statements.The Governmental Accounting Standards Board The Governmental Accounting Standards Board (GASB) is currently the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States of America. last month proposed its fourth Concepts Statement, Elements of Financial Statements', defining the seven elements of governmental financial statements. When considered collectively, Concepts Statements form the GASB's conceptual framework For the concept in aesthetics and art criticism, see . A conceptual framework is used in research to outline possible courses of action or to present a preferred approach to a system analysis project. which provides a foundation to guide the board's development of accounting and financial reporting standards. Comments on the proposed Concepts Statement, Elements of Financial Statements, are due Nov. 17. Visit: [website] www.gasb.org See .org. (networking) org - The top-level domain for organisations or individuals that don't fit any other top-level domain (national, com, edu, or gov). Though many have .org domains, it was never intended to be limited to non-profit organisations. RFC 1591. |
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