Government Accounting And Auditing


A FASAB proposed standard would eliminate the requirement to report changes in certain receivables from the public as a resource on the statement of financing. Comments are due by June 8 ( www.financenet.gov/financenet/fed/fasab/pdf/ed_para80.pdf ).

New FASAB guidance amends standards for direct loans and loan guarantees, effective for periods beginning after September 30, 2002 ( www.financenet.gov/financenet/fed/fasab/pdf/sffas-19.pdf ).

The Social Security program’s financial stability will last until 2038—one year longer than previously expected—based on recent adjustments in the economic and demographic data underlying future SS payment projections ( www.ssa.gov/enews/enewspress031901.htm ).

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.