Government Accounting


The Federal Accounting Standards Advisory Board issued an exposure draft (ED), Consolidated Financial Report of the United States Government Requirements: Implementing Statement of Federal Financial Accounting Concepts 4, Intended Audience and Qualitative Characteristics for the Consolidated Financial Report of the United States Government ( www.fasab.gov/pdffiles/consolfinancialreport.pdf ). The proposed standard would identify ways preparers could condense voluminous CFR information into more easily understood summary disclosures in keeping with the provisions of SFFAC 4. Comments are due March 1, 2006.

The Governmental Accounting Standards Board (GASB) released the 2005 update to its Comprehensive Implementation Guide, which consolidates related publications issued through June 30, 2005, and updates questions and answers pertaining to GASB Statement nos. 3, 9, 10, 14, 25, 26, 27, 31, 34 (and related statements) and 40. It also discusses the effects of statements through no. 46 and can be ordered at http://shop.store.yahoo.com/gasbpubs/gsig05.html .

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

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News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

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Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.