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
Year: 2021
Type: article
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.
Authors: Claudia P. Carlo, Dr. Dahli Gray
Institution: Keiser University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W3138560693