Norwalk, CT, July 11, 2011—The GASB today issued a Preliminary Views on concepts related to recognition of elements of financial statements and measurement approaches. The Preliminary Views, Recognition of Elements of Financial Statements and Measurement Approaches, is intended to set forth and seek comments on the Board’s early views on how and when an item should be reported (recognition) on state and local government financial statements and how the amount of the item reported on those statements should be determined (measurement approach).
Constituents are urged to review the Preliminary Views and provide comments by September 30, 2011. Copies of the document may be downloaded free of charge from
www.gasb.org.
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