For general accounting in areas not addressed in this rule, LEA's shall follow, in descending priority sequence, the authoritative sources listed below:

1. (a) The first level shall include:

   1. (1) GASB statements; or
   2. (2) GASB interpretations;

2. (b) The second level shall include:

   1. (1) GASB technical bulletins;
   2. (2) AICPA industry audit and accounting guides made applicable by the AICPA and cleared by the GASB; or
   3. (3) AICPA statements of position made applicable to auditing governmental entities by the AICPA and cleared by the GASB;

3. (c) The third level shall include:

   1. (1) GASB emerging issues task force consensus positions; and
   2. (2) AICPA practice bulletins made applicable to government entities by the AICPA and accepted for use in governmental accounting by the GASB;

4. (d) The fourth level shall include:

   1. (1) GASB implementation guides; or
   2. (2) Prevalent accounting practices widely recognized, among their peers, by public accountants and certified public accountants, licensed under RSA 309-B, who prepare state and local governmental financial reports; and

5. (e) Other sources of guidance shall include:

   1. (1) GASB concepts statements;
   2. (2) The New Hampshire financial accounting handbook for local education agencies, published by the state department of education, in cooperation with the NH association of school business officials;
   3. (3) FASB guidelines that have not been applicable to state and local government accounting by the GASB; and
   4. (4) Accounting text books, articles, or pronouncements of other professional associations or regulatory agencies.

Source. #1536, eff 2-19-80; ss by #2053, eff 6-10-82; ss by #2723, eff 5-23-84, EXPIRED 5-23-90 New. #5072, eff 2-21-91; ss by #6125, eff 11-23-95; ss by #6476, eff 3-26-97; ss by #8306, eff 3-22-05; ss by #10304, eff 3-22-13; ss by #13503, eff 12-9-22