The Federal Accounting Standards Advisory Board (FASAB, "the Board") was created under the terms of the Federal Advisory Committee Act (FACA), as amended, (5 U.S.C. app.) and is sponsored by the Comptroller General of the United States, the Director of the Office of Management and Budget (OMB), and the Secretary of the Treasury of the United States.
The Federal Accounting Standards Advisory Board (FASAB, "the Board") was created under the terms of the Federal Advisory Committee Act (FACA), as amen...
During its initial years of operation, FASAB developed a core set of accounting standards and concepts statements. Now, after more than a dozen years of substantial progress, the Board believes that it is time to revisit the concepts given the changes in the federal financial reporting environmental since the fist concepts statement was issued.
During its initial years of operation, FASAB developed a core set of accounting standards and concepts statements. Now, after more than a dozen years ...
The objective of the Financial Reporting Model Task Force was to increase users' access to and understanding and use of financial information in the Consolidated Financial Report (CFR) of the federal government, while avoiding costly requirements that do not add value. To help achieve this objective, the task force developed 10 recommendations for the FASAB and its sponsors. While the task force primarily focused on government-wide reporting, recommendations 4, 5, and 8 also apply to agencies.
The objective of the Financial Reporting Model Task Force was to increase users' access to and understanding and use of financial information in the C...
The Federal Accounting Standards Advisory Board ("FASAB" or "the board") was established in October, 1990, by three federal officials responsible for federal financial reporting-the Secretary of the Treasury, the Director of the Office of Management and Budget, and the Comptroller General of the United States. These three officials possess legal authority under various laws to establish accounting and financial reporting standards for the federal government. Together, they entered into and have periodically modified a memorandum of understanding creating the board as a federal advisory...
The Federal Accounting Standards Advisory Board ("FASAB" or "the board") was established in October, 1990, by three federal officials responsible for ...
