The ABFM’s membership comprises both governmental practitioners and academics in graduate programs in public administration and public affairs. It represents a unique and important constituency of the GASBpeople who are responsible for teaching and training both future users and preparers of governmental financial statements, as well as financial statement users in their own right via research and consulting activities. As a section of the American Society for Public Administration (ASPA), the ABFM’s participation in the GASAC also establishes an unprecedented link between governmental standard setting and the ASPA’s diverse membership of more than 10,000 academics and practitioners.
At the GASAC’s next meeting to be held in May, the GASB will seek input on two of its projects before they are exposed for public commentOther Postemployment Benefits (OPEB) and Deposit and Investment Risks. Postemployment benefits, other than pensionssuch as retiree health insuranceare generally not reported by governments in their financial statements. The OPEB project is intended to establish rules on how governments should report the costs and liabilities related to those benefits. The other project considers how governments might disclose the potential risk of loss to which their investments and deposits are exposed.
Bart welcomes feedback from ABFM members on these and other issues. He can be reached at (316) 978-6332 or firstname.lastname@example.org.
About the Government Accounting Standards Board
and the Financial Accounting Foundation
Formed in 1984, the GASB is the independent, not-for-profit organization 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. The Financial Accounting Foundation is responsible for funding, overseeing and selecting the members of the GASB and the Financial Accounting Standards Board (FASB). More information about the work of the GASB is available on its website at www.gasb.org.
Governmental Accounting Standards Board (GASB)...
Improving governmental accountability through better financial reporting.