In what can be termed a shift in placement, the Governmental Accounting Standards Board and the American Institute of CPAs are proposing that certain guidance in the latter's literature belongs in the literature of the former.

One item ready for the shift is the hierarchy of generally accepted accounting principles for state and local governments. It established the levels of authority of accounting pronouncements that have been issued by various bodies, including GASB, the Financial Accounting Standards Board, the AICPA's Accounting Standards Executive Committee, the Auditing Standards Board and the Federal Accounting Standards Advisory Board.

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