An International Meeting of the American Accounting Association American Accounting Association 2006 Annual Meeting August 6–9, 2006 Washington, D.C.

Lawrence R. Hudack
Barry University

Abstract: The Governmental Accounting Standards Board Concept Statement Number One (1987) specifies the citizenry as a primary user of external state and local governmental financial reports. Furthermore, such external reports should assist primary users to assess the financial condition and results of operations. This empirical study attempts to offer guidance on how to implement the GASB’s objectives by applying a new financial analytical tool to the recently revised financial statements for State Colleges and Universities. The financial health for 297 Public Institutions are rank ordered within three separate categories. The study’s results are relevant to assist citizens (i.e., taxpayers) and internal stakeholders such as present and potential students, faculty, and administrators to assess the financial condition and results of operations.

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