The US Governmental Accounting Standards Board (GASB) is seeking
comments on an improved financial reporting entity
The proposed standard, Financial Reporting
Entity, amends GASB statements No. 14 and No. 34.
The Financial Reporting Entity looks to
improve guidance for presenting, including, and disclosing
information about the component units and equity interest
transactions of a financial reporting entity.
The standard would also modify financial
reporting of component units by including organisations that are
fiscally dependent on a government. This would be done by adding a
requirement that the potential component unit and the primary
government also have a financial benefit or burden
The deadline for comments is 30 June.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData