Government Accounting


The Federal Accounting Standards Advisory Board (FASAB) issues three pronouncements that amend Statement of Federal Financial Accounting Standards (SFFAS) no. 7, Accounting for Revenue and Other Financing Sources. The changes relate to the elimination of certain tax revenue transaction disclosures by the IRS, the Customs Service and others (SFFAS no. 20), reporting corrections of errors and changes in accounting principles (SFFAS no. 21) and certain requirements for reconciling obligations and net cost of operations (SFFAS no. 21). ( www.fasab.gov/pdf/stdedition7.pdf; www.fasab.gov/pdf/sffas21.pdf; www.fasab.gov/pdf/sffas-22.pdf)

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

Pronoun practice to help polish your prose

Using pronouns correctly in writing and speech can help you make a good impression. Try our 10-question quiz.