The Governmental Accounting Standards Board (GASB) is a private, nonprofit organization formed in 1984

The Governmental Accounting Standards Board (GASB) is a private, nonprofit organization formed in 1984
The Governmental Accounting Standards Board (GASB) is a private, nonprofit organization formed in 1984 to develop and improve accounting and financial standards for state and local governments. In June, 1999, GASB approved GASB-34, entitled Basic Financial Statements-and Managements Discussion and Analysis- for State and Local Governments. This statement establishes new requirements for the annual financial reports of state and local governments.