Status of Statement No. 34

Summaries / Status

Status of Statement No. 34
Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments

Status


Issued: June 1999 

Effective Date:

    In three phases based on a government's total annual revenues, beginning with periods beginning after June 15, 2001 and continuing through periods beginning after June 15, 2003

Affects:
  • Amends NCGAS 1, Summary Statement of Principles Nos. 1, 2, 3, 5, 8–12; ¶2–¶4, ¶16–¶18, ¶22, ¶25–¶27, ¶32, ¶42–¶44, ¶46, ¶57, ¶59, ¶61, ¶72, ¶76, ¶99, ¶100, ¶107, ¶108, ¶114, ¶117, ¶123, ¶125, ¶128, ¶129, ¶131, ¶133, ¶135, ¶138, ¶139, ¶143, ¶145, ¶147, ¶155–¶159, ¶161, and ¶173–¶175
  • Supersedes NCGAS 1, Summary Statement of Principles Nos. 6 and 7 and fn4; ¶19,
  • ¶20, ¶34–¶41, ¶45, ¶47–¶56, ¶60, ¶71, ¶74, fn16, ¶98, ¶101–¶106, ¶122, ¶136, ¶137, ¶140–¶142, ¶144, ¶146, ¶148–¶154, ¶162–¶164, and ¶166–¶171
  • Supersedes NCGAS 2, ¶15, ¶16, and ¶18
  • Supersedes NCGAS 4, ¶5–¶7
  • Amends NCGAS 4, ¶9, ¶13, ¶16, and ¶17
  • Amends NCGAS 5, ¶5, ¶6, ¶10, ¶11, ¶14–¶17, ¶22, and ¶24
  • Supersedes NCGAS 5, ¶8 and ¶9
  • Supersedes NCGAI 2
  • Amends NCGAI 3, ¶3
  • Supersedes NCGAI 5
  • Amends NCGAI 6, ¶2, ¶4, ¶5, and ¶8
  • Supersedes NCGAI 6, ¶3
  • Amends NCGAI 8, ¶12
  • Amends NCGAI 9, ¶9 and ¶12
  • Amends NCGAI 10, ¶11, ¶13–¶15, and ¶25
  • Supersedes NCGAI 10, ¶2 and ¶12
  • Supersedes AICPA SOP 77-2
  • Supersedes AICPA SOP 78-7
  • Supersedes AICPA SOP 80-2, ¶4 and ¶5
  • Amends GASBS 1, ¶8
  • Amends GASBS 3, ¶63–¶65 and ¶70
  • Amends GASBS 6, ¶13–¶15, ¶17, ¶19, and ¶23
  • Amends GASBS 7, ¶1, ¶3, ¶7, ¶8, ¶10, ¶11, ¶13, and ¶14
  • Supersedes GASBS 7, ¶9 and fn1
  • Amends GASBS 8, ¶10, ¶11, and fn3
  • Amends GASBS 9, ¶1, ¶4–¶7, ¶17, ¶18, ¶21, ¶22, ¶31–¶34, ¶36, and fn12
  • Supersedes GASBS 9, fn1 and fn8
  • Amends GASBS 10, ¶14, ¶15, ¶52, ¶53, ¶61, ¶63–¶65, ¶67–¶69, ¶77, ¶78, ¶80, fn9, and fn12
  • Supersedes GASBS 11, ¶1–¶39, ¶62, ¶63, ¶68–¶76, ¶81–¶99, and ¶260
  • Amends GASBS 12, ¶1 and ¶12
  • Amends GASBS 13, ¶1, ¶4, ¶7, ¶9, and ¶10
  • Amends GASBS 14, ¶9, ¶11, ¶12, ¶19, ¶42, ¶44, ¶50–¶52, ¶54, ¶58, ¶60, ¶63, ¶65, ¶73, ¶74, ¶78, and ¶131
  • Supersedes GASBS 14, ¶45–¶47, ¶49, ¶56, and ¶57
  • Amends GASBS 16, ¶1, ¶5, ¶10, ¶13, and ¶14
  • Supersedes GASBS 17, ¶1–¶3, ¶5, and ¶7
  • Amends GASBS 17, ¶4 and ¶6
  • Amends GASBS 18, ¶3, ¶5, ¶7, ¶10, ¶11, ¶16, ¶17, and fn2
  • Supersedes GASBS 20, ¶4, fn1, and fn2
  • Amends GASBS 20, ¶5–¶9
  • Amends GASBS 21, ¶3–¶6
  • Amends GASBS 23, ¶1, ¶3, ¶4, ¶6, and fn5
  • Amends GASBS 24, ¶5 and ¶13
  • Supersedes GASBS 24, ¶14
  • Amends GASBS 25, ¶13, ¶14, ¶17, ¶44, and fn2
  • Supersedes GASBS 25, fn9
  • Amends GASBS 26, ¶4, fn3, and fn4
  • Amends GASBS 27, ¶3, ¶4, ¶9, ¶15–¶17, ¶19, ¶23, ¶25, ¶39, and fn14
  • Amends GASBS 28, ¶4, ¶10, fn3, fn6, and fn9
  • Amends GASBS 29, ¶4, ¶5, and ¶7
  • Supersedes GASBS 29, ¶1, ¶3, ¶6, and fn1
  • Amends GASBS 31, ¶7, ¶13, ¶14, ¶18, ¶19, and fn8
  • Amends GASBS 32, ¶4 and ¶6
  • Amends GASBS 33, ¶11, ¶29, and fn11
  • Amends GASBI 1, ¶6, ¶10, ¶13, and fn2
  • Amends GASBI 2, ¶3 and ¶4
  • Amends GASBI 3, ¶3, ¶4, and fn1–fn3
  • Amends GASBI 4, ¶6
  • Amends GASBTB 94-1, fn5

Affected by:

  • Footnote 3 superseded by GASBS 35, ¶5
  • Paragraph 11 amended by GASBS 37, ¶4 and ¶5 and GASBS 63, ¶7 and ¶8
  • Paragraph 12 amended by GASBS 63, ¶7 and ¶8
  • Paragraph 13 amended by GASBS 63, ¶8
  • Paragraph 16 amended by GASBS 63, ¶7 and ¶8
  • Paragraph 17 superseded by GASBS 62
  • Footnote 12 amended by GASBS 62, ¶476–¶500
  • Footnote 13 amended by GASBS 62, ¶77–¶82 and GASBS 63, ¶8
  • Paragraph 18 amended by GASBS 37, ¶6
  • Paragraph 19 amended by GASBS 42, fn1 and GASBS 51, ¶5 and ¶17
  • Paragraph 20 amended by GASBS 63, ¶8
  • Paragraph 21 amended by GASBS 42, ¶9 and GASBS 51, ¶17
  • Paragraph 25 amended by GASBS 37, ¶8
  • Paragraph 30 amended by GASBS 63, ¶8
  • Footnote 23 amended by GASBS 63, ¶8
  • Paragraph 32 superseded by GASBS 63, ¶8
  • Paragraph 33 superseded by GASBS 63, ¶9
  • Paragraph 34 amended by GASBS 46, ¶2 and GASBS 63, ¶10
  • Footnote 24 amended by GASBS 54, ¶8 and GASBS 63, ¶8
  • Footnote 25 amended by GASBS 62, ¶476–¶500
  • Paragraph 35 amended by GASBS 61, ¶12 and GASBS 63, ¶8
  • Paragraph 36 superseded by GASBS 63, ¶11
  • Paragraph 37 amended by GASBS 54, ¶10–¶16 and GASBS 63, ¶8
  • Paragraph 38 amended by GASBS 37, ¶11 and GASBS 63, ¶8
  • Paragraph 39 superseded by GASBS 37, ¶10
  • Paragraph 48 amended by GASBS 37, ¶12
  • Paragraph 49 superseded by GASBS 37, ¶13
  • Paragraph 53 amended by GASBS 63, ¶8
  • Paragraph 54 amended by GASBS 63, ¶8
  • Paragraph 55 amended by GASBS 62, ¶45–¶49
  • Paragraph 57 amended by GASBS 63, ¶8
  • Paragraph 58 amended by GASBS 63, ¶8 and GASBS 65, ¶13
  • Paragraph 61 amended by GASBS 63, ¶8 and GASBS 65, ¶13
  • Paragraph 62 amended by GASBS 63, ¶7 and ¶8
  • Paragraph 64 amended by GASBS 54, ¶28–¶35
  • Paragraph 65 amended by GASBS 54, ¶35
  • Paragraph 66 amended by GASBS 63, ¶8
  • Paragraph 67 amended by GASBS 37, ¶14
  • Paragraph 69 amended by GASBS 63, ¶8
  • Paragraph 76 amended by GASBS 37, ¶15 and GASBS 65, ¶33
  • Paragraph 80 amended by GASBS 63, ¶8
  • Paragraph 81 amended by GASBS 47, ¶3
  • Paragraph 82 amended by GASBS 63, ¶8
  • Paragraph 83 amended by GASBS 63, ¶12
  • Paragraph 84 superseded by GASBS 54, ¶22 and ¶25
  • Paragraph 85 amended by GASBS 63, ¶8 and GASBS 65, ¶31
  • Footnote 38 amended by GASBS 54, ¶22
  • Paragraph 88 amended by GASBS 37, ¶16
  • Paragraph 90 amended by GASBS 63, ¶8
  • Paragraph 91 amended by GASBS 63, ¶7, ¶8, and ¶12
  • Footnote 39 amended by GASBS 63, ¶8
  • Footnote 40 superseded by GASBS 63, ¶8
  • Paragraph 92 amended by GASBS 63, ¶7, ¶8, and ¶12
  • Paragraphs 93 and 94 superseded by GASBS 62, ¶23–¶28
  • Paragraph 95 amended by GASBS 62, ¶476–¶500
  • Paragraph 97 amended by GASBS 62, ¶29–¶43 and GASBS 63, ¶8
  • Paragraph 98 amended by GASBS 63, ¶8
  • Paragraph 99 amended by GASBS 63, ¶8
  • Paragraph 100 amended by GASBS 48, ¶21 and GASBS 63, ¶8
  • Paragraph 101 amended by GASBS 63, ¶8
  • Paragraph 103 amended by GASBS 63, ¶8
  • Paragraph 104 amended by GASBS 63, ¶8
  • Paragraph 106 amended by GASBS 43, ¶15 and GASBS 63, ¶7, ¶8, and ¶12
  • Footnote 43 amended by GASBS 43, ¶11; GASBS 63, ¶8; and GASBS 67, ¶14
  • Footnote 44 amended by GASBS 43, ¶11; and GASBS 67, ¶14
  • Paragraph 107 amended by GASBS 43, ¶11 and ¶24 and GASBS 67, ¶20
  • Paragraph 108 amended by GASBS 43, ¶11; GASBS 63, ¶8; and GASBS 67, ¶15–¶21
  • Paragraph 109 amended by GASBS 43, ¶11; GASBS 63, ¶8; and GASBS 67, ¶22–¶29
  • Paragraph 110 amended by GASBS 63, ¶8
  • Paragraph 112 amended by GASBS 63, ¶8
  • Paragraph 115 amended by GASBS 62, ¶4 and GASBS 63, ¶8
  • Paragraph 116 amended by GASBS 63, ¶8
  • Footnote 47 will be amended by GASBS 68, ¶37–¶45, ¶74–¶80, ¶109–¶113, ¶116, and ¶122
  • Paragraph 121 amended by GASBS 63, ¶8
  • Paragraph 122 amended by GASBS 37, ¶17 and GASBS 63, ¶7, ¶8, and ¶12
  • Paragraph 125 amended by GASBS 63, ¶8
  • Paragraph 126 amended by GASBS 37, ¶18 and GASBS 63, ¶8
  • Footnote 51 amended by GASBS 63, ¶8
  • Paragraph 127 amended by GASBS 63, ¶7, ¶8, and ¶12
  • Paragraph 129 amended by GASBS 43, ¶46; GASBS 45, ¶40; and GASBS 67, ¶32–¶34; will be amended by GASBS 68, ¶46, ¶47, ¶81, ¶82, ¶114, ¶115, and ¶117
  • Paragraph 130 and footnote 53 amended by GASBS 41, ¶3
  • Paragraph 131 amended by GASBS 37, ¶19
  • Paragraph 136 amended by GASBS 63, ¶8
  • Paragraph 138 amended by GASBS 63, ¶8
  • Paragraph 139 amended by GASBS 63, ¶8
  • Paragraph 140 amended by GASBS 43, ¶11; GASBS 63, ¶8; and GASBS 67, ¶5 and ¶11
  • Footnote 63 amended by GASBS 43, ¶12 and GASBS 67, ¶11 and ¶51
  • Footnote 64 amended by GASBS 43, ¶13 and GASBS 67, ¶9
  • Paragraph 141 amended by GASBS 43, ¶11
  • Paragraph 144 amended by GASBS 37, ¶9
  • Paragraph 146 amended by GASBS 37, ¶7
  • Paragraph 147 amended by GASBS 62, ¶4
  • Paragraph 148 amended by GASBS 63, ¶8

Other Interpretive Literature:

  • GASBQ&A 34, GASBQ&A 34B
  • GASB Comprehensive Implementation Guide

Primary Codification Section Reference: Throughout
 


Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
BFC - Basis For Conclusions
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
SOP - AICPA Statements of Position
ASLGU - AICPA Audit Guide
GASB Q&A - GASB Implementation Guides