17018. STATEMENT 34 OF THE GOVERNMENT ACCOUNTING STANDARDS BOARD (GASB). This paper describes the mission of the Government Accounting Standards Board (GASB) and examines its 1999 statement (GASB 34) regarding new standards for financial reporting by government entities. The paper also discusses the expected benefits of the new standards to taxpayers, investors, political decision-makers, and others. Keywords: federal accounting standards. Written 2004. 12 pages; 39 footnotes; 9 bibliographic sources. 2,589 words.