The
Federal Accounting Standards Advisory Board (FASAB) published Statement of Federal Financial Accounting Standards (SFFAS) no.
Federal Accounting Standards Advisory Board. At its October 1999 meeting, AICPA Council adopted a resolution recognizing the FASAB as the body responsible for establishing GAAP for federal government entities.
We at the
Federal Accounting Standards Advisory Board (FASAB) recently celebrated a major accomplishment--attainment of Rule 203 status with the AICPA.
Staats, long retired as CG at the time the audit was conducted, served as chair of the
Federal Accounting Standards Advisory Board from 1990 to 1997.
FASAB--Federal Accounting Standards Advisory Board (
Federal Accounting Standards Advisory Board, 441 G Street, N W., Suite 6814, Washington, DC 20548); also available online at www.fasab.gov
The financial statements are prepared in conformity with Statements of Federal Financial Accounting Standards (SFFAS), which are issued by the
Federal Accounting Standards Advisory Board (FASAB) (see sidebar).
The
Federal Accounting Standards Advisory Board (FASAB) issued two statements of federal financial accounting standards (SFFAS) (www.fasab.gov/ standards.html).
It calls for a system that follows the standards laid down by the
Federal Accounting Standards Advisory Board (FASAB).
FASAB--
Federal Accounting Standards Advisory Board (Federal
* The
Federal Accounting Standards Advisory Board (FASAB) published Statement of Federal Financial Accounting Standards 26, Presentation of Significant Assumptions for the Statement of Social Insurance: Amending SFFAS 25 (www.fasab.gov/pdffiles/sffas-26.pdf).
RESOLVED: That the
Federal Accounting Standards Advisory Board, with respect to its statements of federal accounting standards and concepts adopted and issued in March of 1993 and subsequently; in accordance with its rules of procedure, the memorandum of understanding and public notice designating the FASAB's standards and concepts as having substantial authoritative support, be, and hereby is, designated by the Council of the American Institute of Certified Public Accountants as the body to establish financial accounting principles for federal governmental entities pursuant to rule 203.
FASAB--Federal Accounting Standards Advisory Board (
Federal Accounting Standards Advisory Board, 441 G Street, N.W, Suite 6814, Washington, DC 20548); also available online at www.fasab.gov