Governmental accounting standards board issues concepts statement related to communication methods.

PositionAccounting & auditing news

The Governmental Accounting Standards Board recently issued Concepts Statement No. 3, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements. According to the GASB, the Concepts Statement aims to provide a conceptual basis for selecting communication methods to present items of information within general purpose external financial reports that contain basic financial statements. These communication methods include recognition in basic financial statements...

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