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.
SPONSORED REPORT
6 key areas of change for accountants and auditorsNew accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.
PODCAST
How tax reform will impact individual taxpayersAmy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.