Response to the GASB Invitation to Comment on Financial Reporting Model Improvements—Governmental Funds (Project No. 3-25I)

Autor:	Renee Flasher, Amy Foshee Holmes, Louella Moore, Dara Marie Marshall, Carol M. Jessup, Mary Fischer
Rok vydání:	2018
Předmět:	Finance business.industry Process (engineering) 0502 economics and business 05 social sciences 050602 political science & public administration 050201 accounting Business 0506 political science Governmental accounting
Zdroj:	Journal of Governmental & Nonprofit Accounting. 7:87-96
ISSN:	2155-3815 1176-1687
DOI:	10.2308/ogna-52325
Popis:	The Governmental Accounting Standards Board (GASB) has been actively engaged in the process of making improvements to the financial reporting model to provide more useful information to the users of the financial reports of governmental entities. The GASB proposed three recognition approaches to replace the current financial resources reporting model for governmental funds. The three approaches vary along a time dimension. The “near-term” model is the most similar to the current model with a specified reporting period of 60–90 days. A “short-term” model extends the transaction reporting to be the government's one-year operating cycle. Finally, a “long-term” model would report both current and noncurrent assets and liabilities for governmental funds. Data Availability: Details regarding the GASB project can be found on its website at: https://www.gasb.org/jsp/GASB/Document_C/GASBDocumentPage?cid=1176168729663&acceptedDisclaimer=true.
Databáze:	OpenAIRE
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