GOVERNMENTAL ACCOUNTING STANDARDS BOARD Definition

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GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB) is a nonprofit organization responsible for establishing and improving accounting and financial reporting standards for governmental units.

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MTM see MARK-TO-MARKET.

SCOPE, in accounting, is the type of engagement. The scope of an engagement might be a review, an audit, or a compilation. A scope limitation is a restriction on the evidence the auditor can gather.

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