Awards recognize outstanding CPAs in government
Deborah Loveless and Kathryn Belfi receive awards.
Governmental
FASAB committee proposal would withdraw inter-entity cost guidance
Lease accounting rules for federal entities also were clarified.
GASB clarifies majority equity interest reporting rules
The statement divides interests into investments and component units.
FASAB proposal seeks clearer materiality guidance
The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements.
GASB proposes new rules for reporting conduit debt obligations
Variation in practice was a concern under existing rules.
GASB proposes targeted improvements, new concepts
GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.
GASB clarifies majority equity interest reporting rules
Clarifying guidance issued by GASB explains that state and local governments are required to consider the definition of an acquisition in their accounting for majority equity interest in an organization.
GAO issues revised government auditing standards
Changes to the Yellow Book reinforce the principles of transparency and accountability.
Proposal would withdraw inter-entity cost guidance
A new Federal Accounting Standards Advisory Board proposal is designed to eliminate inconsistencies in the board’s guidance for federal entities’ accounting for inter-entity costs.
GASB proposes new rules for reporting conduit debt obligations
Under new rules proposed by GASB, state and local governments would use a single method to report conduit debt obligations and related obligations.
GASB issues implementation guidance
Pensions, post-employment benefits, and more are addressed.
Inter-entity cost accounting rules amended for federal agencies
The change could reduce reporting costs for some.
GAO issues revised Yellow Book standards for government auditors
The revised standards are designed to provide a framework for high-quality work by government auditors.
FASAB proposes new standards for accounting and reporting of government land
Relevance and comparability are concerns, the chairman said.
GASB addresses interest cost incurred before a construction period ends
State and local governments will provide new information to financial statement users under a standard GASB issued that establishes accounting rules for accounting for interest cost incurred before the end of a construction period.
Quiz: Best practices in government accounting and auditing
How well do you know the rules for state and local government accounting and auditing? Take this quiz and find out.
New GASB standard addresses debt disclosures
Direct borrowings and direct placements are to be presented separately.
How formal ERM implementation can help federal agencies
Federal government entities are embracing risk management practices that can help them make better decisions and be more transparent.
Inter-entity cost accounting rules amended for federal agencies
The Federal Accounting Standards Advisory Board issued amended accounting rules for recognition of inter-entity costs by federal agencies.
GASB issues implementation guidance
New implementation guidance issued by the GASB is designed to clarify, explain or elaborate on state and local government accounting standards.
