Running Head: GASB and FASB Analysis Paper GASB and FASB Analysis Paper Henry Holden Course: ACC/460 Government and Non-Profit Accounting University of Phoenix Instructor: Aisha Meeks Due Date: June 12‚ 2009 GASB and FASB Analysis Paper Since 1973‚ the Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting. Those standards govern the preparation of financial statements. They are officially
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1. What are the three classifications of net assets established by FASB Statement 117? 2. How are these net assets affected by the existence or absence of donor-imposed restrictions? 3. How are releases of these net assets accomplished? 1. The three classifications of net assets established by FASB Statement 117 are: unrestricted assets‚ temporarily restricted assets‚ and permanently restricted assets. 2. The existence or absence of donor-imposed restrictions play a large part in how assets
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Reporting Council (FRC) announced that Australia would adopt the accounting standards issued by the International Accounting Standards Board (IASB) from 2005(Baxter 2005). After the first of July 2005‚ the new standards (IFRS) start to use across national border. companies would be required to report current results under IFRS and restate recent results. They will also have to report their latest results under the old accounting standard‚ which should make comparing results on a like-for-like basis relatively
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Who Makes Decision In My Life What is life? Many people think this question is for those kids or primary students to answer. Yet‚ I can say that majority of university students or adult will not be able to answer this question as well. Most of them will just tell the definition of life according to the Google‚ Wikipedia and dictionaries. No doubt‚ those definitions are absolutely correct and tremendous. However‚ do those definitions grant you any understanding of life? I firmly believe there’s
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GASB and FASB Analysis Paper By Jennifer R Carlson ACC 460 Kelly Chamberlain March 6‚ 2006 The Governmental Accounting Standards Board (GASB) is the board that "sets the accounting and financial reporting standards for state and local governments‚ whereas the Financial Accounting Standards Board (FASB) is the standard-setter for all other entities except the federal government." (Granof‚ 2003‚ Ch 1 pp6) The GASB promotes accountability and allows the public to know the facts in
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convergence projects between FASB and IASB? What are their major problems? What are their major achievements? The Norwalk Agreement‚ first announced on September of 2002‚ was a paramount step towards a unified global accounting standard. In this document‚ both U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Boards (IASB) (the Boards) “each acknowledge their commitments to the development of high quality‚ compatible accounting standards that could be used for
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The Similarity and Difference between FASB & GASB Financial Reporting Saintania Bien-Aime Governmental/ Institutional Accounting: ACG4501 Keiser University April 15‚ 2012 Abstract The accounting and financial reporting standards are one of the source that profit businesses and governmental not-for-profit organizations‚ which has been created by the Accounting standards Board (FASB). However‚ accounting and financial reporting standards that apply for state and local governments in America
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ARTICLE REVIEW: MINISTRIES IN THE NEW TESTAMENT AND THE EARLY CHURCH’ AUTHOR: SCHMIDT‚ PETER In This article Peter Schmidt looks at ministry in the New Testament and early church‚ comparing them to what we now understand to be ministry and office ‚ with the aim of proving that offices as we know them‚ were not the explicit will of the historical Christ but were an evolution which occurred because of historical and cultural circumstances at a particular time and so we are not bound‚
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reading over a few sources pertaining to both anti and pro marijuana campaigns is that a substantial number of anti-marijuana campaigns do not necessarily come from people who feel strongly about its use. Not surprising to me is that a lot of the groups or politicians against it are funded by big alcohol and big pharmaceutical companies who are worried that marijuana’s social benefits and medical uses will drain away all their profits. I think lobbyists have a great deal of influence in a wide range of
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NBER WORKING PAPER SERIES THE CAPITAL STRUCTURE DECISIONS OF NEW FIRMS Alicia M. Robb David T. Robinson Working Paper 16272 http://www.nber.org/papers/w16272 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 August 2010 The authors are grateful to the Kauffman Foundation for generous financial support. Malcolm Baker‚ Thomas Hellmann‚ Antoinette Schoar‚ Ivo Welch‚ and seminar participants at the Kauffman/Cleveland Federal Reserve Bank Entrepreneurial Finance
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