The User's Perspective—December 2010

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Touring the Financial Statements, Part V: Supporting Information   
Though the basic financial statements and their accompanying notes are the centerpiece of a government’s annual financial report, they are greatly aided in providing a comprehensive picture of a government’s financial health by supporting information. This part of our tour of the state and local government financial report will examine this supporting information, which allows users of financial reports to better interpret and understand what financial statements and note disclosures say about a government’s financial state.

 


In 2010, the GASB relaunched its website, www.gasb.org. The comprehensive site redesign offers more intuitive organization and up-to-date navigational capabilities.

The User’s Role in GASB Research 
Users of governmental financial statements play an integral role in the GASB’s research efforts. The GASB would like to spotlight why your participation is so valuable to our process and to take this opportunity to thank you for the time and assistance you provided in 2010.

 
Goings on at the GASB 
This article rounds up activities at the GASB since the June issue, including an update on the pension project, the forthcoming update of the user guide series, and the appointment of the new chairman of the GASAC.

 
Please respond to the following GASB proposal today:

  • Exposure Draft, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position
    (Comment Deadline: February 25, 2011) 
 
 
Let the GASB know who you are: Fill out the GASB visitors register and we will keep you up to date about what we are doing.