Describe the purpose of the GASB’s GAAP hierarchy guidelines.

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Answer 1

Question

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

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Answer 2

Question

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

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Answer 3

Question

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

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Answer 4

Question

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

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Answer 5

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

Answer 6

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

Answer 7

Chapter 1, Problem 9Q

a.

To determine

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

Answer 8

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

Answer 9

b.

To determine

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

Answer 10

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Answer 11

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Answer 12

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Answer 13

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Describe the purpose of the GASB’s GAAP hierarchy guidelines.

Solution Summary: The author explains the purpose of the GASB's GAAP hierarchy guidelines: it helps the accountant and auditor rank the relative authoritativeness of standard pronouncements and other accounting publications.

Describe the purpose of the GASB’s GAAP hierarchy guidelines.

Explain how an accountant or auditor would use the hierarchy, if the guidance given in a GASB statement and an AICPA audit and accounting guide regarding the proper accounting treatment of a state government transaction or event conflict.

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Chapter 1 Solutions