Summaries / Status

Status of Statement No. 34
Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments

Status

Issued: June 1999

Effective Date:

    In three phases based on a government's total annual revenues, beginning with periods beginning after June 15, 2001 and continuing through periods beginning after June 15, 2003

Affects:

  • Amends NCGAS 1, Summary Statement of Principles Nos. 1, 2, 5, 8, 12 and ¶2–¶4, ¶16–¶18, ¶22, ¶25–¶27, ¶32, ¶42–¶44, ¶46, ¶57, ¶59, ¶61, ¶72, ¶76, ¶99, ¶100, ¶107, ¶108, ¶114, ¶117, ¶123, ¶125, ¶128, ¶129, ¶131, ¶133, ¶135, ¶138, ¶139, ¶143, ¶145, ¶147, ¶155–¶159, ¶161, and ¶173–¶175
  • Supersedes NCGAS 1, Summary Statement of Principles Nos. 3, 6, and 7 and fn4; ¶19, ¶20, ¶34–¶41, ¶45, ¶47–¶56, ¶60, ¶71, ¶74, fn16, ¶98, ¶101–¶106, ¶122, ¶136, ¶137, ¶140–¶142, ¶144, ¶146, ¶148–¶154, ¶162–¶164, and ¶166–¶171
  • Supersedes NCGAS 2, ¶15, ¶16, and ¶18
  • Supersedes NCGAS 4, ¶5–¶7
  • Amends NCGAS 4, ¶13, ¶14, ¶16, and ¶17
  • Amends NCGAS 5, ¶5, ¶6, ¶10, ¶11, ¶14–¶17, ¶22, and ¶24
  • Supersedes NCGAS 5, ¶8 and ¶9
  • Supersedes NCGAI 2
  • Amends NCGAI 3, ¶3
  • Supersedes NCGAI 5
  • Amends NCGAI 6, ¶2, ¶4, ¶5, and ¶8
  • Supersedes NCGAI 6, ¶3
  • Amends NCGAI 8, ¶12
  • Amends NCGAI 9, ¶9 and ¶12
  • Amends NCGAI 10, ¶11, ¶13–¶15, and ¶25
  • Supersedes NCGAI 10, ¶2 and ¶12
  • Supersedes AICPA SOP 77-2
  • Supersedes AICPA SOP 78-7
  • Supersedes AICPA SOP 80-2, ¶4 and ¶5
  • Amends GASBS 1, ¶8
  • Amends GASBS 3, ¶63–¶65 and ¶70
  • Amends GASBS 6, ¶13–¶15, ¶17, ¶19, and ¶23
  • Amends GASBS 7, ¶1, ¶3, ¶7, ¶8, ¶10, ¶11, ¶13, and ¶14
  • Supersedes GASBS 7, ¶9 and fn1
  • Amends GASBS 8, ¶10, ¶11, and fn3
  • Amends GASBS 9, ¶1, ¶4–¶7, ¶17, ¶18, ¶21, ¶22, ¶31–¶34, ¶36, and fn12
  • Supersedes GASBS 9, fn1 and fn8
  • Amends GASBS 10, ¶52, ¶53, ¶61, ¶63–¶65, ¶67–¶69, ¶77, ¶78, ¶80, fn 9, and fn12
  • Supersedes GASBS 11, ¶1–¶39, ¶62, ¶63, ¶68–¶76, ¶81–¶99, and ¶260
  • Amends GASBS 12, ¶1 and ¶12
  • Amends GASBS 13, ¶1, ¶4, ¶7, ¶9, and ¶10
  • Amends GASBS 14, ¶9, ¶11, ¶12, ¶19, ¶42, ¶44, ¶50–¶52, ¶54, ¶58, ¶60, ¶63, ¶65, ¶73, ¶74, ¶78, and ¶131
  • Supersedes GASBS 14, ¶45–¶47, ¶49, ¶56, and ¶57
  • Amends GASBS 16, ¶1, ¶5, ¶10, ¶13, and ¶14
  • Supersedes GASBS 17, ¶1–¶3, ¶5, and ¶7
  • Amends GASBS 17, ¶4 and ¶6
  • Amends GASBS 18, ¶3, ¶5, ¶7, ¶10, ¶11, ¶16, ¶17, and fn2
  • Supersedes GASBS 20, ¶4 fn1, and fn2
  • Amends GASBS 20, ¶5–¶9
  • Amends GASBS 21, ¶3–¶6
  • Amends GASBS 23, ¶1, ¶3, ¶4, and ¶6 and fn5
  • Amends GASBS 24, ¶5 and ¶13
  • Supersedes GASBS 24, ¶14
  • Amends GASBS 25, ¶13, ¶14, ¶17, and ¶44, and fn2
  • Supersedes GASBS 25, fn9
  • Amends GASBS 26, ¶4, fn3, and fn4
  • Amends GASBS 27, ¶3, ¶4, ¶9, ¶15–¶17, ¶19, ¶23, ¶25, ¶39, and fn14
  • Amends GASBS 28, ¶4, ¶10, fn3, fn6, and fn9
  • Amends GASBS 29, ¶4, ¶5, and ¶7
  • Supersedes GASBS 29, ¶1, ¶3,and ¶6 and fn1
  • Amends GASBS 31, ¶7, ¶13, ¶14, ¶18, ¶19 and fn8
  • Amends GASBS 32, ¶4 and ¶6
  • Amends GASBS 33, ¶11, ¶29, and fn11
  • Amends GASBI 1, ¶6, ¶10, ¶13, and fn2
  • Amends GASBI 2, ¶3 and ¶4
  • Amends GASBI 3, ¶3, ¶4, fn1–fn3
  • Amends GASBI 4, ¶6
  • Amends GASBTB 94-1, fn5

Affected by:

  • Footnote 3 superseded by GASBS 35, ¶5
  • Paragraph 11 amended by GASBS 37, ¶4 and ¶5
  • Paragraph 18 amended by GASBS 37, ¶6
  • Paragraph 19 amended by GASBS 42, fn1, and will be amended by GASBS 51
  • Paragraph 21 amended by GASBS 42, ¶9, and will be amended by GASBS 51
  • Paragraph 25 amended by GASBS 37, ¶8
  • Paragraph 34 amended by GASBS 46, ¶2
  • Paragraph 38 amended by GASBS 37, ¶11
  • Paragraph 39 superseded by GASBS 37, ¶10
  • Paragraph 48 amended by GASBS 37, ¶12
  • Paragraph 49 superseded by GASBS 37, ¶13
  • Paragraph 58 amended by GASBS 48, fn4
  • Paragraph 61 amended by GASBS 48, fn4
  • Paragraph 67 amended by GASBS 37, ¶14
  • Paragraph 76 amended by GASBS 37, ¶15
  • Paragraph 81 amended by GASBS 47, ¶3
  • Paragraph 88 amended by GASBS 37, ¶16
  • Paragraph 100 amended by GASBS 48, ¶21
  • Paragraph 106 amended by GASBS 43, ¶15
  • Footnotes 43 and 44 amended by GASBS 43, ¶11
  • Paragraph 107 amended by GASBS 43, ¶11 and ¶24
  • Paragraphs 108 and 109 amended by GASBS 43, ¶11
  • Paragraph 122 amended by GASBS 37, ¶17
  • Paragraph 126 amended by GASBS 37, ¶18
  • Paragraph 130 and foonote 53 amended by GASBS 41, ¶3
  • Paragraph 131 amended by GASBS 37, ¶19
  • Paragraph 140 amended by GASBS 43, ¶11
  • Footnote 63 amended by GASBS 43, ¶12
  • Footnote 64 amended by GASBS 43, ¶13
  • Paragraph 141 amended by GASBS 43, ¶11
  • Paragraph 144 amended by GASBS 37, ¶9
  • Paragraph 146 amended by GASBS 37, ¶7

Other Interpretive Literature:

  • GASBQ&A 34, GASBQ&A 34B
  • GASB Comprehensive Implementation Guide

Primary Codification Section Reference: Throughout

Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
BFC - Basis For Conclusions 		NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
SOP - AICPA Statements of Position
ASLGU - AICPA Audit Guide
GASB Q&A - GASB Implementation Guides