GASB Issues Exposure Draft On Affiliated Organizations.

• Author: Heffes, Ellen M.
• Position: Governmental Accounting Standards Board - Brief Article

The Governmental Accounting Standards Board (GASB) has issued a revised Exposure Draft, The Financial Reporting Entity - Affiliated Organizations, to amend Statement No. 14, The Financial Reporting Entity. The proposal is intended to provide additional guidance to determine if an affiliated organization is a component unit of a financial reporting entity. Affiliated organizations may include certain foundations and other not-for-profit groups associated with colleges and universities, hospitals, school districts, museums, libraries and other governmental entities.

GASB Project Manager Joseph C. Blythe noted that the revised...