Understanding state and local government financial statements. Go to the GASB Web site at http://www.gasb.org. Write a brief description of the mission of the GASB, its relation to the FASB, and the...

Understanding state and local government financial statements. Go to the GASB Web site at http://www.gasb.org. Write a brief description of the mission of the GASB, its relation to the FASB, and the current project agenda of the GASB board. Are there any exposure drafts, discussion memoranda, and/or invitations to comment documents outstanding to which you could respond? What is the purpose of the Governmental Accounting Standards Advisory Council?