An Interview with David Vaudt, Chair of the Governmental Accounting Standards Board

Less well known is its sister organization, the Governmental Accounting Standards Board (GASB), which establishes standards for governmental entities. Since financial institutions lend to government as well as to private companies, this interview gives readers the opportunity to learn from GASB Chai...

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Bibliographic Details
Published in:The RMA Journal 2018-10, Vol.101 (2), p.54-57
Main Author: Twain, Mark
Format: Article
Language:English
Subjects:
Accounting
Audits
Careers
Cash flow forecasting
Cash flow statements
Employment
Financial institutions
Financial reporting
Financial statements
Governmental accounting
High school basketball
International Public Sector Accounting Standards
Public sector
Revenue recognition
Twain, Mark (Samuel Langhorne Clemens) (1835-1910)
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Summary:Less well known is its sister organization, the Governmental Accounting Standards Board (GASB), which establishes standards for governmental entities. Since financial institutions lend to government as well as to private companies, this interview gives readers the opportunity to learn from GASB Chair David Vaudt about what his organization is doing to improve public-sector accounting. [...]the GASB's financial reporting objectives consider accountability to be the cornerstone on which all other financial reporting objectives should be built. [...]our work on the revenue and expense recognition project allows us to consider both improving our current exchange/nonexchange recognition model and exploring the FASB's new performance/no-performance obligation revenue recognition model.
ISSN:1531-0558