Government Accounting


The Governmental Accounting Standards Board issued Technical Bulletin no. 2006-1 to clarify how state and local government entities should report payments received from the federal government under the retiree drug subsidy provisions of Medicare Part D. The bulletin (product no. GTB0601) can be ordered at http://gasbpubs.stores.yahoo.net/gtb0601.html . With certain exceptions, it took effect June 30, 2006.

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Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.