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One difference between the two organizations is that the rules of the GASB need not apply to that of FASB. If the GASB had not covered an accounting topic that the FASB had, then the FASB standards would be used by the government entities. Under the rules of the FASB, SFAS No. 87 Employers Accounting for Pension must be followed by the financial entity...
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One difference between the two organizations is that the rules of the GASB need not apply to that of FASB. If the GASB had not covered an accounting topic that the FASB had, then the FASB standards would be used by the government entities. Under the rules of the FASB, SFAS No. 87 Employers Accounting for Pension must be followed by the financial entity...
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