Dr. Arthur Gumenik
Degree Award Date
GASB 34, Governmental Accounting
Accounting | Business
This project examines GASB Statement Number 34, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments. Issued by the Governmental Accounting Standards Board in June 1999, GASB Statement Number 34 outlines dramatically different financial reporting requirements for state and local governments. Through examination of GASB Statement Number 34 and related literature, I compare the previous standards to the new requirements and explain the Board's justification for altering the financial reporting requirements. I determine the implications of implementing the new standards for both accountants and financial statement users. Through interviews with Certified Public Accountants and local government officials, I assess the benefits of the modifications and examine any prevailing criticisms.
Haines, Kelly, "GASB 34: The New Face of Governmental Accounting" (2001). Honors Projects. 403.