FASAB committee proposes changes to guidance on leases
With a new standard for reporting on leases soon to be effective, the Accounting and Auditing Policy Committee is seeking comments on updates to its leases guidance in a 2021 technical release.
FASAB Accounting Requirements
FASAB seeks feedback on its existing standards
The FASAB is seeking comments on its Reexamination of Existing Standards project to ensure that its standards meet users’ needs and provide financial information that supports public accountability and transparency.
FASAB issues statement to clarify lease terms
The Federal Accounting Standards Advisory Board issued a statement intended to provide targeted technical clarifications to further facilitate implementation of SFFAS 54, Leases.
FASAB issues bulletin on reimbursable work agreements
FASAB issued a technical bulletin to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54 and other relevant statements.
FASAB seeks comments on annual report, 3-year plan
The Federal Accounting Standards Advisory Board (FASAB) is seeking comments on its Annual Report for Fiscal Year 2022 and Three-Year Plan.
FASAB proposes conforming amendments to 4 technical releases
A proposal issued Wednesday by the Accounting and Auditing Policy Committee of the Federal Accounting Standards Advisory Board would amend four federal government accounting standards technical releases to conform with recently issued guidance.
FASAB clarifies federal accounting rules for debt cancellation
Debt cancellation is a nonexchange activity that should be reported by federal entities on the statement of changes in net position, according to an interpretation issued by FASAB.
FASAB amends lease accounting requirements
Lease accounting requirements for federal agencies were amended and clarified Thursday when FASAB issued new guidance.
FASAB reappoints Scott for second term as chair
The Federal Accounting Standards Advisory Board’s sponsors reappointed George Scott, CPA, CGMA, for a second term as the board’s chair.
Q&A: FASAB reaches milestone amid pandemic
After celebrating its 30th anniversary, the Federal Accounting Standards Advisory Board is continuing to move forward in its mission to deliver transparency in federal accounting, says board Chair George Scott, CPA, CGMA.
New lease accounting guidance proposed for federal entities
The Federal Accounting Standards Advisory Board and the Accounting and Auditing Policy Committee issued a joint exposure draft related to lease accounting for federal entities.
