Omnibus Amendments FASAB Contact: Sherry Lee, leesl@fasab.gov, 202-512-9108 Project Objective: The objective of the omnibus amendments project is to amend multiple provisions through a single action. The Board expects the amendments to be narrow in scope and not to create new requirements for reporting entities. Also, combining proposed amendments should ease the burden on respondents as… Read More
Intragovernmental Leasehold Reimbursable Work Agreements
Intragovernmental Leasehold Reimbursable Work Agreements FASAB Contact: Ricky A. Perry, Jr., perryra@fasab.gov
Intragovernmental Allowances
Intragovernmental Allowances FASAB Contact, Melissa Batchelor, batchelorm@fasab.gov, 202-512-5976 Project Summary: On February 20, 2020, FASAB staff issued Technical Bulletin (TB) 2020-1, Loss Allowance for Intragovernmental Receivables. Technical Clarifications of Existing Standards (TCES) Project Description: Members of the Board and the federal financial management community have expressed a general concern that federal entity resources are increasingly… Read More
Omnibus Amendments: Technical Clarifications Addressing Lessee and Lessor Discount Rates and Sale-leasebacks
Omnibus Amendments: Technical Clarifications Addressing Lessee and Lessor Discount Rates and Sale-leasebacks FASAB Contact: Ricky A. Perry, Jr., perryra@fasab.gov
Technical Guidance Update: Conforming Amendments of Technical Releases
AAPC: Accounting and Auditing Policy Committee Technical Guidance Update: Conforming Amendments of Technical Releases FASAB Contact: Melissa L. Batchelor, BatchelorM@fasab.gov, 202-512-5976 Project Objective The Board issued several pronouncements in recent years that require assessing and updating related lower-level GAAP. These pronouncements include SFFAS 42, Deferred Maintenance and Repairs: Amending Statements of Federal Financial Accounting Standards… Read More
Omnibus Concepts Amendments
Omnibus Concepts Amendments FASAB Contact, Robin Gilliam, gilliamr@fasab.gov, 202-512-7356 Project Objective The objective of the omnibus concepts amendments project is to amend existing concepts for note disclosures and management’s discussion and analysis (MD&A). Amending note disclosure concepts in paragraph 68 of Statement of Federal Financial Accounting concepts (SFFAC) 2, Entity and Display, will expand concepts to… Read More
Outreach
Board and Staff Outreach Board members and staff frequently engage with FASAB’s constituents to increase the knowledge and interest in FASAB’s projects throughout the federal financial management community. Please see the below chart for examples of FASAB’s various outreach, including presentations, podcasts, and articles. If you are interested in having a member of FASAB or… Read More
Climate-Related Financial Reporting
Climate-Related Financial Reporting FASAB Contact: Robin Gilliam, gilliamr@fasab.gov, 202-512-7356 Climate Staff Paper See FASAB’s staff paper titled Statements of Federal Financial Accounting Standards That May Be Relevant to Climate-Related Financial Reporting. This FASAB staff paper catalogs existing SFFASs that may be relevant to account for or report on the effects of climate-related events that have… Read More
Intangible Assets
Intangible Assets FASAB Contact: Josh R. Williams, williamsjr@fasab.gov, 202-512-4051 Project Objective: The Board initially considered intangible assets as part of the now archived software licenses project. Members decided to archive the software licenses project due to the breadth of guidance potentially needed to address intangible assets. This project began as a research topic in which… Read More
Risk Reporting
Risk Reporting FASAB Contact: Robin Gilliam, gilliamr@fasab.gov, (202) 512-7356 Project Summary: The Board will address risk reporting through the MD&A and Note Disclosure projects. Project Objective: The issuance of Statement of Federal Financial Accounting Standards (SFFAS) 51, Insurance Programs, on January 18, 2017, effectively concluded the first phase of the risk reporting project (formerly the risk assumed project). For… Read More