Read the following articles and any other papers that are available on setting governmental accounting standards:

“The Governmental Accounting Standards Board: Factors Influencing Its Operation and Initial Technical Agenda,” Government Accountants Journal, Spring 2000.

“Governmental Accounting Standards Come of Age: Highlights from the First 20 Years,” Government Finance Review, April 2005.

“Forward-Looking Information: What It Is and Why It Matters,” Government Accountants Journal, December 1, 2010.

“GASB Simplifies GAAP Hierarchy for State and Local Governments," Business Wire, June 29, 2015.

“A Century of Governmental Accounting and Financial Reporting Leadership,” Government Finance Review, April 2006.

“The GASB Turns 25: A Retrospective,” Government Finance Review, April 2009.

“Proposed Changes to the Process Used to Set the GASB’s Technical Agenda,” Government Finance Review, April 1, 2013.

Required

Write a short paper discussing the evolution of financial reporting for state and local governments over the years.