Government Accounting


The Governmental Accounting Standards Board (GASB) issued an exposure draft, Sales and Pledges of Receivables and Future Revenues, that would establish criteria for governments to determine whether the proceeds from certain transactions—such as the sale of delinquent taxes, specific mortgages, student loans or upcoming payments from tobacco liability settlements—should be reported as revenue from a sale or as collateralized borrowing resulting in a liability ( www.gasb.org/exp/ed_sales&pledges.pdf ). Comments are due December 30, 2005.

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

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How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

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Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out