GASB Issues Exposure Draft on Concepts Related to Communication Methods
The proposed Concepts Statement defines the communication methods commonly used in general purpose external financial reports, and develops criteria for each communication method. The definitions and criteria should help the GASB or, in the absence of authoritative guidance, a preparer of a financial report determine the appropriate methods to use to communicate an item of information. Using a consistent approach in the selection of communication methods should benefit users in understanding the location and nature of information in financial reports.
The Exposure Draft may be ordered by telephoning the GASB Order Department at 800-748-0659.