RhymeZone: gaafr definitionsGovernment financial reporting is the process whereby governments report their financial position and activities to the public at large. These reports are the standard that citizens, oversight bodies, and other stakeholders use to judge their government's efficiency, effectiveness, and overall financial condition. This article examines government financial reporting from a historical perspective and will discuss this contemporary issue at the federal level. Government financial reporting at the state and local levels evolved throughout of the twentieth century. Association and began to promulgate formal standards. It issued the first "blue book" in , Bulletin No.
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GFOA is headquartered in downtown Chicago. By the late s, it was apparent that the NCGA couldn't fully do its job, due to part-time members and limited resources. The Research and Consulting Center also is nationally recognized for its objective and practitioner focused consulting services for state and local governments. GFOA's technology consulting practice was formed in to respond to GFOA members need for objective, independent guidance on procurement and implementation of enterprise resource planning ERP systems in advance of Y2K. As a non-profit membership organization, GFOA has no affiliation with any software or hardware vendors, and serves as an independent source of information for local governments.
Magazine article Government Finance Review. By examining the history of GFOA's Blue Book on accounting, auditing, and financial reporting, this article provides an overview of the background behind governmental accounting organizations, guidelines, and principles.
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