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

Question

Quizplus · Accepted Answer

GASB Implementation Guides are considered authoritative guidance and are on the same level as GASB Technical Bulletins in the GAAP hierarchy for state and local government financial reporting.

Under the Existing GAAP Hierarchy for State and Local Government