Government Accounting



FASAB has issued Interpretation 7, Items Held for Remanufacture. The interpretation provides guidance for the classification, valuation and reporting of items that are held for remanufacture (including items in the process of inspection, disassembly, evaluation, cleaning, rebuilding, etc.) prior to sale or internal use. It applies the Statement of Federal Financial Accounting Standards 3, Accounting for Inventory and Related Property, and other existing standards. The interpretation is available at www.fasab.gov/codifica.html.

 

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Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.