Research the GASB and its mission. To do this assignment, follow instructions in Chapter 15 – Exercise 15(advanced accounting 12e). Here you will conduct research on www.gasb.org citing the mission and purpose of the GASB. Also, research their current project agenda and the purpose of the GASB advisory council. Research the accounting issue and formalize your findings in a formal research memo.
Exercise 15(LO1,2,3)Understanding state and local government financial statements. Go to the GASB Web site at http://www.gasb.org. Write a brief description of the mission of the GASB, its relation to the FASB, and the current project agenda of the GASBboard. Are there any exposure drafts, discussion memoranda, and/or invitations to comment documents outstanding to which you could respond? What is the purpose of the GovernmentalAccounting Standards Advisory Council?
