Under the existing GAAP hierarchy for state and local government financial reporting,the GASB Implementation guides are:
A) More authoritative than GASB Statements.
B) Less authoritative than GASB Technical Bulletins.
C) More authoritative than the AICPA state and local government audit guide.
D) Equally authoritative to AICPA Practice Bulletins.

Question

Quizplus · Accepted Answer

GASB Implementation Guides are considered less authoritative than GASB Technical Bulletins in the GAAP hierarchy for state and local government financial reporting.

Under the Existing GAAP Hierarchy for State and Local Government