Governmental Accounting


GOVERNMENTAL ACCOUNTING

The Financial Accounting and Standards Advisory Board (FASAB) requests comments on an exposure draft. Titled Accounting for National Defense PP&E and Associated Cleanup Costs, the ED amends current standards for ND property, plant and equipment by changing its definition, the method of accounting for it and the information reported about it. The ED also proposes that such PP&E consist of two separate categories of items—major end items and mission-support items. This approach, FASAB says, makes it easier to apply expense recognition standards and disclosures for different types of these items. Comments are due by November 29. (www.financenet.gov/financenet/fed/fasab/exposure.htm)

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What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.