GASB SETS NEW STANDARDS.

• Position: Government Accounting Standards Board - Brief Article

The Governmental Accounting Standards Board, the organization that sets accounting and financial reporting standards for upwards of 84,000 governmental units in the United States (stop that yawning), is about to require for the first time that governments report all their assets, including such permanent structures as roads and bridges. This is part of an ambitious effort to help governments clarify the financial information they provide to citizens. For years, local and state government...