State and local governments that follow generally accepted accounting principles (gaap). Definition of gasb in military and government The governmental accounting standards board (gasb) is the source of generally accepted accounting principles (gaap) used by state and local governments in the united states
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What does gasb stand for
The abbreviation gasb stands for govermental accounting standards board
The gasb is the generally accepted accounting principles in each state and throughout the united states. The governmental accounting standards board, or gasb, was established in 1984 in order to create accounting and reporting standards that foster visibility and clarity in finance reporting for governmental entities. Gasb, which stands for governmental accounting standards board, is the group that sets the accounting and financial standards for state and local government entities in the united states.
