Government Accounting


GOVERNMENT ACCOUNTING
FASAB’s Accounting and Auditing Policy Committee issued an exposure draft of a new Federal Financial Accounting Technical Release, Clarification of Standards Relating to Inter-Entity Cost. The ED provides guidance to federal entities on three aspects of inter-entity costing outlined in SFFAS 30, Inter-Entity Cost Implementation Amending SFFAS 4, Managerial Cost Accounting Standards and Concepts, which becomes effective Sept. 30, 2008. They are: (1) guidance on costs that should be considered broad and general for all entities; (2) guidance on Directness of Relationship to the entity’s operations as used in determining if a transaction should be considered material to the receiving entity; and (3) guidance on Identifiability as used in determining if a transaction should be considered material to the receiving entity.

The ED is available at www.fasab.gov/exposure.html or by calling 202-512-7350. Comments are requested by Aug. 6.

SPONSORED REPORT

Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.