The financial report of the U.S. government provides a view of the government’s current financial metrics and trends, as well as perspective on future issues and challenges, including long-term fiscal sustainability.
A proposal issued by the FASAB would require federal lessees to recognize a lease liability and a leased asset at the beginning of a lease, unless it is an intragovernmental lease or a short-term lease.
A GASB proposal would provide guidance addressing a multitude of issues that have arisen in state and local government financial reporting.
Accounting requirements for state and local governments for early extinguishment of debt would become more consistent under a proposal issued by the Governmental Accounting Standards Board.
GASB's rules for reporting on pollution mediation obligations provide for consistent, timely and complete reporting, according to a review.
GASB’s new accounting standards for other postemployment benefits (OPEB) are significantly different from previous standards for state and local governments.
The proposed standard is intended to improve transparency for users.
Here’s how to book a fairly stated liability under new GASB standards.
The change is meant to ensure federal government accountability.
The Federal Accounting Standards Advisory Board proposed a standard with the intention of providing the public more information about the U.S. government’s tax expenditures.
The new guidance clarifies the board's requirements.
A new implementation guide clarifies practice issues.
Federal agencies will be required to present disclosures about public-private partnerships in their general-purpose financial statements under new guidance issued by the FASAB.
GASB issued guidance to address practice issues encountered during implementation of its new pension accounting rules for state and local governments.
GASB proposes a principle for reporting.
The benefits of providing audit services to NFP and government organizations are numerous yet may present unforeseen professional liability risks.
The new statement clarifies display requirements.
GASB issued recognition and measurement guidance that aims to lead to more consistent accounting for irrevocable split-interest agreements.
GASB issued implementation guidance that is intended to clarify, explain, or elaborate on recent standards issued for state and local government financial reporting.
A new standard preserves the amortized cost accounting option.