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Proposed Statement of the GASB: Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements
Publication date: 30 Jun 2021
us GASB Exposure draft
June 30, 2021
Comments Due: October 15, 2021
Proposed Statement of the Governmental Accounting Standards Board
Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements
an amendment of GASB Concepts Statement No. 3
This Revised Exposure Draft of a proposed Statement of Governmental Accounting Concepts is issued by the GASB for public comment. Written comments should be addressed to:
Director of Research and Technical Activities Project No. 3-34
Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements
INTRODUCTION
- Disclosure in notes to financial statements is one of the four methods of communicating information in general purpose external financial reports identified in Concepts Statement No. 3, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements. The primary objective of this Concepts Statement is to establish concepts for evaluating whether information is appropriate for disclosure in notes to financial statements.
- Concepts Statements do not establish authoritative guidance for accounting and financial reporting. This Concepts Statement primarily is intended to provide the GASB with criteria to consistently evaluate notes to financial statements in the standards-setting process. The fundamental concepts also may be used by preparers, auditors, and users in understanding the conceptual foundation for notes to financial statements.
To view the full text, launch or detach the following PDF file: Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements (PDF 405kb)
Copyright #year# by Financial Accounting Foundation, Norwalk, Connecticut.
Copyright 1974-1980 by American Institute of Certified Public Accountants.
Copyright 1976-1984 by Government Finance Officers Association.
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