Which of the following standard-setting bodies requires a management's discussion and analysis as a part of the financial report?
A) GASB.
B) FASB.
C) FASAB.
D) Both A and C.

Question

Quizplus · Accepted Answer

The Governmental Accounting Standards Board (GASB) and the Federal Accounting Standards Advisory Board (FASAB) both require a management's discussion and analysis (MD&A) as part of the financial reporting for governmental entities.

Which of the Following Standard-Setting Bodies Requires a Management's Discussion