The first publication of the “Blue Book” was in 1936 by the National Committee on Municipal Accounting.[1] The NCMA, as it was known, was established by GFOA’s predecessor association and served as the first widely-acknowledged standard-setter for governmental accounting and financial reporting.[2]  The last authoritative Blue Book, entitled Government Accounting, Auditing and Financial Reporting (GAAFR) published in 1968.[3] 

Beginning with the 1980 edition of the Blue Book and continuing through all subsequent editions, GFOA has published the GAAFR as a practice aid, rather than as an authoritative accounting literature.[4] As such, the GAAFR provides a great deal of suggested guidance on the preparation of governments’ annual comprehensive financial reports.  Many of these suggestions constitute requirements of the GFOA’s Certificate of Achievement for Financial Reporting Award (Certificate Award).  GFOA believes that these are best practices for all governments to adopt, unless their unique circumstances dictate otherwise.