City government officials are analyzing a complicated financial transaction. A GASB Implementation Guide seems to provide one reporting answer and a GASB Concepts Statement seems to provide a different answer. What reporting is most appropriate?
a. The government can use either method and still be in conformity with U.S. GAAP.
b. Government officials should follow the guidance provided by the GASB Implementation Guide.
c. The city’s financial statements must be in conformity with the GASB Concepts Statement.
d. The city’s accountants should seek some type of compromise that takes both of these pronouncements into consideration.