Sunday, June 05, 2005

GASB publishes plain language Guide to Notes to the Financial Statements and Supporting Information


The Governmental Accounting Standards Board (GASB) has published a new volume in its User Guide Series. Written for nonaccountants, What Else You Should Know about a Government’s Finances: A Guide to Notes to the Financial Statements and Supporting Information is a plain-language introduction to the information that accompanies a state or local government’s annual financial statements.

The new guide comprehensively discusses all of the notes to the financial statements required by generally accepted accounting principles. The guide also covers required supplementary information, such as management’s discussion and analysis and infrastructure condition reporting, as well as the information presented in a comprehensive annual financial report, such as combining statements and the recently revised statistical section.

See full Article.