Government Accounting


The Federal Accounting Standards Advisory Board issued an exposure draft (ED), Consolidated Financial Report of the United States Government Requirements: Implementing Statement of Federal Financial Accounting Concepts 4, Intended Audience and Qualitative Characteristics for the Consolidated Financial Report of the United States Government ( www.fasab.gov/pdffiles/consolfinancialreport.pdf ). The proposed standard would identify ways preparers could condense voluminous CFR information into more easily understood summary disclosures in keeping with the provisions of SFFAC 4. Comments are due March 1, 2006.

The Governmental Accounting Standards Board (GASB) released the 2005 update to its Comprehensive Implementation Guide, which consolidates related publications issued through June 30, 2005, and updates questions and answers pertaining to GASB Statement nos. 3, 9, 10, 14, 25, 26, 27, 31, 34 (and related statements) and 40. It also discusses the effects of statements through no. 46 and can be ordered at http://shop.store.yahoo.com/gasbpubs/gsig05.html .

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

SPONSORED

Building process maps: Template and instructions

Documenting your financial close process and finding opportunities for automation are more important than ever. Our customizable slide deck has instructions, a risk assessment questionnaire, and bonus checklists that will help you map out your process.