The Adoption Of Gasb 34 In Small, Rural, Local Governments

Abstract

In June 1999, the Government Accounting Standards Board issued Government Accounting Standards Board Statement No. 34 - Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments (GASB 34) to improve the transparency and accountability of governments. This study examines the adoption of GASB 34 in local governments where the state government does not mandate GAAPcompliant financial reporting. The findings show low adoption rates among small, rural, local governments and high adoption rates among large, urban, local governments. Factors such as occupational specialization, government type, and a history of GAAP-compliant financial reporting are positively associated with adoption.

Citation

Patrick, P.A. (2010), "The Adoption Of Gasb 34 In Small, Rural, Local Governments", Journal of Public Budgeting, Accounting & Financial Management, Vol. 22 No. 2, pp. 227-249. https://doi.org/10.1108/JPBAFM-22-02-2010-B004