Guide to Implementation of GASB Statement 31 on Accounting and Financial Reporting for Certain Investments and for External Investment Pools
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Published: 1998
Total Pages: 80
ISBN-13:
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Publisher:
Published: 1998
Total Pages: 80
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DOWNLOAD EBOOKAuthor: Financial Accounting Foundation. Governmental Accounting Standards Board
Publisher:
Published: 1997
Total Pages: 56
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Published: 2015
Total Pages: 28
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DOWNLOAD EBOOKAuthor: George Louis Hunt
Publisher:
Published: 2006
Total Pages: 454
ISBN-13:
DOWNLOAD EBOOKThe Governmental Accounting Standards Board (GASB) issued Statement No. 31, "Accounting and Financial Reporting for Certain Investments and for External Investment Pools", in March 1997. The standard requires governments to report most investments at fair value in the balance sheet and recognize changes in fair value as revenues in the operating statement. Fair value reporting in the public sector has received little research attention. The purpose of this study was to examine the usefulness of fair value reporting of investments in governmental fund financial statements. Three primary research questions were examined by surveying external and internal financial statement users. Do users of governmental fund financial statements (1) use fair value information when analyzing financial statements? (2) find fair value information, cost-based information, and other investment information and disclosures useful? (3) experience significant effects on analyses of financial statements or management of investments? A quasi-experimental design was developed to test the use of fair value information. Survey methodology was employed to collect user perceptions of the usefulness of fair value information, cost information, and other disclosures. Users were also asked about the effects of fair value reporting on external user analyses of financial statements and internal user management of investments. Overall, the results of the research do not support the GASB position that fair value reporting is more useful to statement users. The results were mixed and differences existed between user groups. The majority of respondents used cost information when analyzing governmental fund financial statements. However, no clear preference for fair value reporting or cost-based reporting emerged. Findings revealed that both fair value and cost information are useful to statement readers. Other investment-related disclosures would also be useful to users. Overall, the effects of fair value reporting are not significant for financial statement users. Additional research needs to be conducted to validate these findings.
Author: Financial Accounting Foundation. Governmental Accounting Standards Board
Publisher:
Published: 2015
Total Pages: 53
ISBN-13:
DOWNLOAD EBOOK"This Statement addresses accounting and financial reporting for certain external investment pools and pool participants. Specifically it establishes criteria for an external investment pool to qualify for making the election to measure all of is investments at amortized cost for financial reporting purposes." -- Summary.
Author: Financial Accounting Foundation. Governmental Accounting Standards Board
Publisher:
Published: 1984
Total Pages: 68
ISBN-13:
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Published: 1981
Total Pages: 188
ISBN-13:
DOWNLOAD EBOOKAuthor: Girard Miller
Publisher:
Published: 1986
Total Pages: 392
ISBN-13:
DOWNLOAD EBOOKAuthor: Financial Accounting Foundation. Governmental Accounting Standards Board
Publisher:
Published: 2002-06-28
Total Pages: 92
ISBN-13:
DOWNLOAD EBOOKAuthor: Michael A. Crawford
Publisher: CCH
Published: 2008-11
Total Pages: 772
ISBN-13: 9780808092254
DOWNLOAD EBOOKGovernmental GAAP Practice Manual: Including GASB-34 Guidance demonstrates, in a detailed manner, how governmental entity can implement the complex standards established by GASB-34 and beyond through a worksheet approach. (A companion publication, Governmental GAAP Guide, discusses financial accounting and reporting standards necessary to prepare the basic external financial statements of a governmental entity.) The emphasis of Governmental GAAP Practice Manual is on the process of preparing financial statements.