GASB Definition

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GASB stands for Government Accounting Standards Board. The GASB is a nonprofit organization responsible for establishing and improving accounting and financial reporting standards for governmental units.

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UN-CREDITED CHECK is a check that has been presented to the bank but still are under process by the bank. The customer account has been debited already.

COMPREHENSIVE BASIS OF ACCOUNTING is a complete set of rules other than U.S. GAAP applied to all items in a set of financial statements. Examples include a basis of accounting required by a regulatory agency, a basis of accounting the entity uses for its income tax return and the cash receipts and disbursements basis.

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