GASB has a new GAAP Hierarchy

http://www.journalofaccountancy.com/news/2015/jun/gasb-hierarchy-state-local-governments-201512566.html

GASB hierarchy proposal

The proposal suggests a move from four categories to two.  http://journalofaccountancy.com/News/20149710.htm

GAAP Hierarchy for federal entities

http://www.journalofaccountancy.com/Web/20091970.htm
Federal Accounting Standards Advisory Board (FASAB) issued standard SFFAS 34, that incorporates the hierarchy of generally accepted accounting principles (GAAP) into FASAB’s authoritative literature.