FASAB proposes new standards for accounting and reporting of government land
Relevance and comparability are concerns, the chairman said.
Governmental
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.
GASB developing revenue and expense recognition model
2 potential models are discussed in a new document.
New GASB standard addresses debt disclosures
The new standard also requires the disclosure of additional essential debt-related information for all types of debt, including amounts of unused lines of credit and assets pledged as collateral for debt.
Quiz: How much do you know about governmental auditing and single audits?
Specialized knowledge is critical when performing engagements under Government Auditing Standards and compliance audits of federal funds (single audits). Test your expertise in this area.
GASB proposals address capitalization of interest costs, implementation
The board also issued guidance on other post-employment benefits.
FASAB drafts federal standard to protect classified information
The proposal seeks to balance the public interest with security needs.
GASB developing revenue and expense recognition model
GASB is seeking public feedback as it develops a revenue and expense recognition model for state and local government accounting.
How to handle GASB implementation challenges
State and local government finance staffs have had to implement several new, significant GASB statements. Here are tips for handling the challenges.
FASAB addresses intragovernmental exchanges and component reporting
Technical bulletins provide guidance for federal agencies.
GASB issues OPEB implementation guide
GASB issued a guide that addresses questions and answers about the new state and local government standard for other postemployment benefits.
Proposed federal standard designed to protect classified information
The FASAB issued a proposal that’s designed to protect national security information from being disclosed in publicly issued financial reporting by federal agencies.
GASB proposals address capitalization of interest costs, implementation
GASB issued separate proposals on capitalization of interest costs and an upcoming guide to implementing recent pronouncements.
FASAB addresses intragovernmental exchanges, component reporting
The Federal Accounting Standards Advisory Board addressed accounting for intragovernmental exchange transactions and assigning assets to component reporting entities.
CPAs awarded for outstanding service in government
The AICPA presented three CPAs with Outstanding CPA in Government Awards.
