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College and university financial statements and users needs: Impact of GASB and FASB new accounting models
Mary Fischer,
The University of Texas at Tyler
Teresa P. Gordon, The University of Idaho
Marla Kraut, The University of Idaho
ABSTRACT. This longitudinal study reports the impact of generally accepted accounting principle (GAAP) changes and trends in financial statement disclosure for 100 public and private institutions of higher education. Disclosures from the time period when all colleges and universities followed the same accounting standards are compared with disclosures during the second year following major changes in the accounting models for private institutions governed by the Financial Accounting Standards Board (FASB) and for public institution governed by the Governmental Accounting Standards Board (GASB). We find that the importance-weighted disclosure index increased for both public and private institutions
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