GASB 34 manual for Texas cities and counties / Financial Management Review.
Abstract
Since 1984, the Governmental Accounting Standards Board (GASB) has worked to improve
accounting and financial reporting standards for state and local governments. The board is
a private, nonprofit organization consisting of seven board members and a full-time staff.
Like the Financial Accounting Standards Board (FASB) that sets accounting standards for
private companies, GASB is funded by the Financial Accounting Foundation, a nonprofit
entity that exercises general oversight over the financial reporting of public entities.
In June 1999, GASB approved Statement No. 34: Basic Financial Statements—and Management's
Discussion and Analysis—for State and Local Governments (GASB 34).