GASB and FASB: A Comparison
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This paper compares the GASB (Generally Accepted Accounting Principles) with the FASB (Financial Accounting Standards Board) and considers a situation where FASB guidelines might apply to government accounting. Additionally, the paper briefly discusses the role of government regulation in accounting.
From the Paper:"If accounting is the language of business then it is necessary to have a grammar that is all accounting documents should be prepared so that the same terms have the same meaning to all users of the information, To that end, Generally Accepted Accounting Principles (GAAP) have been developed by the Financial Accounting Standards Board (FASB) for commercial entities and the Governmental Accounting Standards Board (GASB) for state and local government agencies. This research explores the commonality and differences between these two..."
Cite this Analytical Essay:
GASB and FASB: A Comparison (2008, December 01) Retrieved March 31, 2020, from https://www.academon.com/analytical-essay/gasb-and-fasb-a-comparison-122739/
"GASB and FASB: A Comparison" 01 December 2008. Web. 31 March. 2020. <https://www.academon.com/analytical-essay/gasb-and-fasb-a-comparison-122739/>