Understanding and Implementing GASB's New Financial Reporting Model: A Question and Answer Guide for Preparers and Auditors of State and Local Government Financial Statements.

• Author: Gauthier, Stephen
• Position: Review

Wood, Venita M.

American Institute of Certified Public Accountants, 1999. (82 pp)

The American Institute of Certified Public Accountants (AICPA) has released a new publication designed to help familiarize its members and their clients with the new governmental financial reporting model promulgated by the Governmental Accounting Standards Board's (GASB) Statement No. 34, Basic Financial Statements--and Management's Discussion and Analysis--for State and Local Governments. The publication is largely devoted to a description of the requirements of GASB Statement No. 34, presented in a question-and-answer format. The order followed is essentially that of the statement itself. The description of specific provisions often is accompanied by an "observation" that comments on the potential impact of the provision, or provides additional information...