Whats GASB?
Governmental Accounting Standards Board (GASB) is not a government agency, but rather a nonprofit agency. It issued its first concept statement regarding this issue in 1987 and unanimously adopted this new financial reporting model on June 10, 1999, after 10 years of development. The organization operates with donated funds collected on its behalf by the Financial Accounting Foundation (FAF) and supplemented with proceeds from sales of its documents. There official web site is at: http://www.accounting.rutgers.edu/raw/gasb/index.
