Government


The Federal Accounting Standards Advisory Board issues Technical Bulletin 2002-1, Assigning to Component Entities Costs and Liabilities that Result From Legal Claims Against the Federal Government ( www.fasab.gov/pdf/presreltb.pdf ). According to the guidance, all such costs and liabilities must be attributed either to the component entities responsible for the programs or activities that contributed to the claims or to their successor component entities.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

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.