Ace the 2026 CGFM Exam – Turbocharge Your Path to Financial Mastery!

Question: 1 / 875

What role does a Preliminary View (PV) play in the GASB's standard-setting process?

It is the final document for standard approval

Shows detailed staff research

Contains the Board's initial proposal for discussion

The Preliminary View (PV) serves as a critical component in the Governmental Accounting Standards Board's (GASB) standard-setting process by outlining the Board's initial proposal for new standards. This document is designed to encourage public feedback and discussion, allowing stakeholders such as government entities, auditors, and the public to understand the Board's preliminary thoughts and considerations regarding potential standards. By presenting its ideas in the PV, the GASB sets the stage for further dialogue, which can shape the development of accounting standards based on community input and concerns. This early engagement helps to ensure that the eventual standards are well-informed and reflective of the needs of those affected by them.

Get further explanation with Examzify DeepDiveBeta

Summarizes comments received from the public

Next Question

Report this question

Download Certified Government Financial Manager (CGFM) Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy