The GASB has authority to issue standards for Service Efforts and Accomplishments Reporting.

Question

Quizplus · Accepted Answer

The Governmental Accounting Standards Board (GASB) has the authority to issue standards related to Service Efforts and Accomplishments Reporting (often referred to as "SEA Reporting"). This type of reporting focuses on measuring and presenting information about the services provided by government entities, as well as the outcomes and accomplishments resulting from those services. The GASB has issued several standards related to SEA reporting, including GASB Statement No. 34, Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments.

The GASB Has Authority to Issue Standards for Service Efforts