Title: GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB) EXPOSURE DRAFT
OF FINANCIAL REPORTING MODEL IMPROVEMENTS ISSUED JUNE 2020:
OCTOBER 2020 SURVEY AND ANALYSIS OF CITY FINANCIAL REPORTS SUPPORT
THE NEED FOR IMPROVEMENTS |
Authors: Claudia P. Carlo and Dr. Dahli Gray |
Abstract: The research for this article was motivated by the June 2020 proposed statement of Governmental
Accounting Standards Board (GASB) entitled Exposure draft of financial reporting model
improvements (GASB, 2020). Survey results completed in October 2020 for this article indicate that
United States (US) citizens find governmental financial statements difficult to understand. Analysis of
financial statements for cities completed for this article indicated a correlation between whether the
cities adopted current governmental standards and the level of poverty in the cities. The city that
adopted the most GASB standards had the lowest poverty level. Correlation does not necessarily mean
that there is a cause-and-effect relationship. More research is needed relative to both the results of the
survey and cities analyzed. |
Keywords: Accounting, GASB Standards, Taxes, Audit, Fraud, Financial reporting, Forensic
Accounting, Government Accounting, Managerial Accounting, Ethics, FASB, AICPA, ACFE |
DOI: http://dx.doi.org/10.37500/IJESSR.2021.4208 |
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