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.
SPONSORED QUIZ
How well do you know small business?There are over 30 million small businesses in the U.S., and many of them are optimistic in their outlook. Are you familiar with the obstacles and opportunities they are facing? Test your small business acumen with this quiz sponsored by Chase Ink®.
SPONSORED REPORT
In focus: PayrollProviding payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.