News Release 11/05/13

FAF ISSUES UPDATED GASB ANNUAL BOUND EDITIONS

Norwalk, CT, November 5, 2013—The Financial Accounting Foundation (FAF) today released an updated print edition of the Governmental Accounting Standards Board’s (GASB) Codification of Governmental Accounting and Financial Reporting Standards. The FAF also released an updated print edition of GASB’s Original Pronouncements and the 2013–2014 Comprehensive Implementation Guide.

The GASB Codification and Original Pronouncements are the authoritative sources of U.S. Generally Accepted Accounting Principles (U.S. GAAP) for state and local governments. The annual bound editions contain all of the content of the online versions as of June 30, 2013. Both publications are part of the Governmental Accounting Research System Online (GARS-Online) through a free Basic View, or a paid Professional View that includes enhanced search, navigation, and other features.

Highlights of the new publications:

Codification of Governmental Accounting and Financial Reporting Standards is an integrated view of the current version of accounting and financial reporting standards for state and local governments, organized by: General Principles, Financial Reporting, Specific Balance Sheet and Operating Statement Items, and Stand-alone Reporting—Specialized Units and Activities.

Original Pronouncements is a two-volume compilation of original versions of GASB Statements, Concepts Statements, Technical Bulletins, and Interpretations, together with pronouncements of the National Council on Governmental Accounting and selected materials of the American Institute of CPAs.

Comprehensive Implementation Guide is a consolidation of all GASB implementation guides issued through June 30, 2013, including the Guide to Implementation of GASB Statement 67 on Financial Reporting for Pension Plans, in question and answer format.

The bound editions of the Codification, the Original Pronouncements, and the Comprehensive Implementation Guide can be ordered online at the GASB Store at the cost of $105.00 each.


About the Financial Accounting Foundation

The FAF is responsible for the oversight, administration, and finances of both the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB). The Foundation is also responsible for selecting the members of both Boards and their respective Advisory Councils.

About the Governmental Accounting Standards Board

The GASB is the independent, not-for-profit organization formed in 1984 that establishes and improves financial accounting and reporting standards for state and local governments. Its seven members are drawn from the Board’s diverse constituency, including preparers and auditors of government financial statements, users of those statements, and members of the academic community. More information about the GASB can be found at its website, www.gasb.org.