Toward an understanding of year-over-year changes in municipal management discussion and analysis disclosures

Rich, Kevin T.; Roberts, Brent L.; Wall, Joseph; Zhang, Jean X.

doi:10.1016/j.adiac.2021.100548

Cited by 3 publications

(2 citation statements)

References 28 publications

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“…As expected by standard setters, studies found that the requirement to prepare MD&A is a positive contribution to the readability of the statements (Bloch, 2016; Rich et al ., 2016). Further, two studies indicate that the quality of the MD&A is helpful in predicting the quality of the statements and improving the understandability of MD&A disclosures (Stalebrink, 2019; Rich et al ., 2021). On the contrary, some studies raise concerns about the lack of readability of the MD&A and the increased cost of preparing the report (Yusuf and Jordan, 2017; Chan, 2001).…”

Section: Discussionmentioning

confidence: 99%

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A review of GASB No. 34

Njoroge,

Solsma,

2023

JPBAFM

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PurposeThis paper documents the Government Accounting Standards Board (GASB) 34 literature, primarily in the areas of (1) accountability and improved reporting, (2) government-wide financial statements and accrual accounting and (3) infrastructure asset capitalization and the modified approach. The paper also evaluates the state of the research, recognizes implications for practice and standard setting, identifies knowledge gaps and proposes avenues for future research.Design/methodology/approachThe authors identified the articles in this narrative review by searching Google Scholar and EBSCO for the years 2000 through 2023, using the keywords GASB 34, government-wide financial statements, government fund statements, infrastructure assets and modified approach.FindingsThis review finds that GASB 34 requirements improved accountability and reporting, but GASB can still make improvements. The addition of the MD&A section requirement improved readability but placed a burden on preparers. Analysis of government-wide statement research indicates that the accrual-based Statement of Net Assets provides value in credit decisions, while the accrual-based Statement of Activities does not. The research on infrastructure accounting requirements shows limited adoption of the modified approach and some comparability issues with choices involving capitalization thresholds, baselines and asset management systems (AMSs). Based on this review, the authors also present suggestions to further this line of research.Originality/valueTo the best of the authors’ knowledge, this is the first article that reviews over 20 years of GASB 34 related literature. The review and suggestions for future research are timely as GASB is in the process of reexamining some of GASB 34's requirements.

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Section: Discussionmentioning

confidence: 99%

“…In a study that extends that of Rich et al (2016Rich et al ( , 2021 examined "year-over-year textual content changes" of municipal MD&As. The purpose of the study was to investigate determinants of changes in MD&A content.…”

Section: Review Of Gasb 34 Literaturementioning

confidence: 99%