Governments must capitalize infrastructure assets with the inception of GASB Statement 34.

Name: Governments must capitalize infrastructure assets with the inception of GASB Statement 34.
Brand: Quizplus
Rating: 4.7 (53 reviews)

Question

Quizplus · Accepted Answer

GASB Statement 34 requires governments to capitalize infrastructure assets, meaning they must report them on their financial statements as assets and not just expenses. This is meant to provide a more accurate picture of the government's financial position and to better track the value of these assets over time.

Governments Must Capitalize Infrastructure Assets with the Inception of GASB