GASB 34: What is it and why should you care?

A change is coming in generally accepted accounting practices that will affect many of Iowa's state and local governments. Under the new Governmental Accounting Standards Board Statement No. 34, many agencies will begin reporting current values for their transportation infrastructures (roads, bridges, etc.) in their annual financial reports. Below you'll find background information (including articles from Technology News), lists of online and hard-copy resources, and regularly updated training information.

Articles from Technology News

Technology News is the Iowa Local Technical Assistance Program (LTAP) newsletter.

Asset Management and GASB 34 for Transportation Agencies

This workshop offered a basic introduction to asset management tools and strategies and the implications of "GASB 34" standards to transportation agencies. It was held November 14, 2000, in Kansas City, Missouri.

Presentations from the workshop 

Online resources

American Institute of Certified Public Accountants
http://www.aicpa.org/pubs/jofa/jan2000/klasny.htm

Government Accounting Standards Board
http://accounting.rutgers.edu/raw/gasb/welcome.htm

Other resources

Government Accounting Standards Board (GASB) Statement No. 34 Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments (June 1999) ($12 each copy)

GASB Implementation Guide Guide to Implementation of GASB Statement 34 on Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments ($26 each copy)

Participants' Manual for the Satellite Videoconference on GASB StatementNo. 34, sponsored by the Association of Government Accountants and the National Association of State Auditors, Comptrollers and Treasurers (May 3, 2000)

The Government Finance Officers Association's (GFOA) publication: An Elected Official's Guide to the New Governmental Financial Reporting Model (written by Stephen J. Gauthier; 78 pages, $10 each copy)

*To read pdf files, you may need to download the free Adobe Acrobat Reader

 

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