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What is GASB 34?

Previously recognized as GASB 34, which has been amended to GASB 63 will require that all government reporting organizations provide a Comprehensive Annual Financial Report (CAFR).

This will report U.S. government financial statements which will recognize financial information pertaining to all reporting entities that comply with accounting requirements that have been promulgated by the Government Accounting Standards Board (e.g. state, municipality, city, township organizations etc.)

The form itself will have the following three sections:

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