The Governmental Accounting Standards Board Statements (GASB Statements or GASBS) are issued by GASB to set generally accepted accounting principles (GAAP) for state and local governments in the United States of America. These statements are the most authoritative source for governmental GAAP. Other business entities follow statements issued by Financial Accounting Standards Board (FASB).
No. Title Issue date Changes1. Authoritative Status of NCGA Pronouncements and AICPA Industry Audit Guide July 1984Amended by various GASBS and GASBCS 1 Partially superseded by GASBS 272. Financial Reporting of Deferred Compensation Plans Adopted under the Provisions of Internal Revenue Code Section 457 Jan. 1986Superseded by GASBS 323. Deposits with Financial Institutions, Investments (including Repurchase Agreements), and Reverse Repurchase Agreements Apr. 1986Amended by various GASBS and GASBI 3 Partially superseded by GASB 404. Applicability of FASB Statement No. 87, "Employers' Accounting for Pensions," to State and Local Governmental Employers Sept. 1986Superseded by GASBS 275. Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers Nov. 1986Superseded by GASBS 25, and 276. Accounting and Financial Reporting for Special Assessments Jan. 1987Amended by various GASBS Partially superseded by GASBS 447. Advance Refundings Resulting in Defeasance of Debt Mar. 1987Amended by GASBS 14, 34, and 86 Partially superseded by GASBS 348. Applicability of FASB Statement No. 93,"Recognition of Depreciation by Not-for-Profit Organizations," to Certain State and Local Governmental Entities Jan 1988Superseded by GASBS 359. Reporting Cash Flows of Proprietary and Nonexpendable Trust Funds and Governmental Entities That Use Proprietary Fund Accounting Sept. 1989Amended by various GASBS Partially superseded by GASBS 3510. Accounting and Financial Reporting for Risk Financing and Related Insurance Issues Nov. 1989Amended by various GASBS and GASBI 4 Partially superseded by various GASBS11. Measurement Focus and Basis of Accounting—Governmental Fund Operating Statements May 1990Superseded by various GASBS12. Disclosure of Information on Postemployment Benefits Other Than Pension Benefits by State and Local Governmental Employers May 1990Superseded by GASBS 27 and 4513. Accounting for Operating Leases with Scheduled Rent Increases May 1990Superseded by GASBS 8714. The Financial Reporting Entity June 1991Amended by various GASBS Partially superseded by GASBS 34 and 3515. Governmental College and University Accounting and Financial Reporting Models Oct. 1991Superseded by GASBS 3516. Accounting for Compensated Absences Nov. 1992Amended Partially superseded by GASBS 34, 35, and 10117. Measurement Focus and Basis of Accounting—Governmental Fund Operating Statements: Amendment of the Effective Dates of GASB Statement No. 11 and Related Statements—an amendment of GASB Statements No. 10, 11, and 13 June 1993Amended by GASBS 34 and 63 and GASBI 6 Partially superseded by GASBS 3418. Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care Costs Aug. 93Amended Partially superseded 19. Governmental College and University Omnibus Statement—an amendment of GASB Statements No. 10 and 15 Sept. 1993 1974Superseded by GASBS 3520.Accounting and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund Accounting Sept. 1993Superseded by GASBS 34 and 6221.Accounting for Escheat Property Oct. 1993Amended Partially superseded 22. Accounting for Taxpayer-Assessed Tax Revenues in Governmental Funds Dec. 1993Superseded by GASBS 3323. Accounting and Financial Reporting for Refundings of Debt Reported by Proprietary Activities Dec. 1993Amended Partially superseded 24. Accounting and Financial Reporting for Certain Grants and Other Financial Assistance June 1994Amended Partially superseded 25. Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans Nov. 1994Superseded by various GASBS 26. Financial Reporting for Postemployment Healthcare Plans Administered by Defined Benefit Pension Plans Nov. 1994Superseded by GASBS 4327. Accounting for Pensions by State and Local Governmental Employers Nov. 1994Superseded by various GASBS28. Accounting and Financial Reporting for Securities Lending Transactions May 1995Amended by various GASBS Partially superseded by GASBS 4029. The Use of Not-for-Profit Accounting and Financial Reporting Principles by Governmental Entities Aug. 1995Superseded by 34 and 6230. Risk Financing Omnibus—an amendment of GASB Statement No. 10 Feb. 1996Amended by various GASBS31. Accounting and Financial Reporting for Certain Investments and for External Investment Pools Mar. 1997Amended by various GASBS32. Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—a recission of GASB Statement No. 2 and an amendment of GASB Statement No. 31 Oct. 1997Superseded by GASB 9733.Accounting and Financial Reporting for Nonexchange Transactions Dec. 1998Amended by various GASBS Partially superseded by GASBS 34, 36, and 5434. Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments June 1999Amended by various GASBS Partially superseded by various GASBS35. Basic Financial Statements—and Management's Discussion and Analysis—for Public Colleges and Universities—an amendment of GASB Statement No. 34 Nov. 1999Amended by GASBS 6336. Recipient Reporting for Certain Shared Nonexchange Revenues—an amendment of GASB Statement No. 33 Apr. 2000None37. Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments: Omnibus—an amendment of GASB Statements No. 21 and No. 34 June 2001Amended by various GASBS Partially superseded by GASBS 8938. Certain Financial Statement Note Disclosures June 2001Amended by various GASBS39. Determining Whether Certain Organizations Are Component Units—an amendment of GASB Statement No. 14 May 2002None40. Deposit and Investment Risk Disclosures—an amendment of GASB Statement No. 3 Apr. 2003Amended by various GASBS Partially superseded by GASBS 73 and 7441. Budgetary Comparison Schedules—Perspective Differences—an amendment of GASB Statement No. 34 May 2003None42. Accounting and Financial Reporting for Impairment of Capital Assets and for Insurance Recoveries Nov. 2003Amended by various GASBS43. Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans Mar. 2004Superseded by GASBS 7444. Economic Condition Reporting: The Statistical Section—an amendment of NCGA Statement 1 May 2004Amended by various GASBS45. Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than PensionsJune 2004Superseded by GASBS 7546. Net Assets Restricted by Enabling Legislation—an amendment of GASB Statement No. 34Dec.2004Amended by GASBS 6347. Accounting for Termination Benefits June 2005Amended by various GASBS48. Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future RevenuesSeptember 2006Amended by GASBS 63, 65, and 92 Partially superseded by GASBS 6549. Accounting and Financial Reporting for Pollution Remediation ObligationsNovember 2006Amended by GASBS 62, 63, and 8350. Pension Disclosures—an amendment of GASB Statements No. 25 and No. 27May 2007Superseded by GASBS 72 and 73 51. Accounting and Financial Reporting for Intangible AssetsJune 2007Amended by various GASBS52. Land and Other Real Estate Held as Investments by EndowmentsNov. 2007Amended by GASBS 7253. Accounting and Financial Reporting for Derivative InstrumentsJune 2008Amended by various GASBS54. Fund Balance Reporting and Governmental Fund Type DefinitionsMarch 2009Amended by GASBS 63 and 8455. The Hierarchy of Generally Accepted Accounting Principles for State and Local GovernmentsMarch 2009Superseded by GASBS 7656. Codification of Accounting and Financial Reporting Guidance Contained in the AICPA Statements on Auditing StandardsMarch 2009Amended by GASBS 63 and 100 Partially superseded by GASBS 6257. OPEB Measurements by Agent Employers and Agent Multiple-Employer PlansDecember 2009Superseded by GASB 74 and 7558. Accounting and Financial Reporting for Chapter 9 BankruptciesDecember 2009Amended by GASBS 65 and 8759.Financial Instruments OmnibusJune 2010 Amended by GASBS 72, 74, and 7960.Accounting and Financial Reporting for Service Concession ArrangementsNovember 2010 Amended by various GASBS Partially superseded by various GASBS 61.The Financial Reporting Entity: Omnibus - an amendment of GASB Statements No. 14 and No. 34November 2010 Amended by various GASBS62.Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA PronouncementsDecember 2010 Amended by various GASBS Partially superseded by various GASBS63.Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net PositionJune 2011 None64.Derivative Instruments: Application of Hedge Accounting Termination Provisions—an amendment of GASB Statement No. 53June 2011 None65.Items Previously Reported as Assets and LiabilitiesMarch 2012 Amended by GASBS 86 and 87 Partially superseded by GASBS 8766.Technical Corrections—2012—an amendment of GASB Statements No. 10 and No. 62March 2012 Amended by GASBS 87 Partially superseded by GASBS 8767.Financial Reporting for Pension Plans—an amendment of GASB Statement No. 25June 2012 Amended by various GASBS 68.Accounting and Financial Reporting for Pensions—an amendment of GASB Statement No. 27June 2012 Amended by various GASBS