Concepts Omnibus

Concepts Omnibus FASAB Contact, Robin Gilliam, gilliamr@fasab.gov, 202-512-7356 Project Objective The objective of the concepts omnibus 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 include the… 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 Outreach: AGA and AFERM released a podcast featuring Robin Gilliam, assistant director, about climate-related financial reporting. Click the link here to listen. 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… 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

DoD Implementation Guidance Request

DoD Implementation Guidance Request Project FASAB Contact, Melissa Batchelor, batchelorm@fasab.gov, 202-512-5976 Project Summary: The DoD Implementation Guidance Request Project has been closed and moved to the archived project page. Several key pronouncements were issued during work on the project such as SFFAS 48, Opening Balances for Inventory, Operating Materials and Supplies (OM&S) and Stockpile Materials… Read More

Non-Federal, Non-Entity Fund Balance with Treasury

Non-Federal, Non-Entity Fund Balance with Treasury FASAB Contact, Melissa Batchelor, batchelorm@fasab.gov, 202-512-5976 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 constrained. Some believe the Board should evaluate existing requirements and eliminate any unnecessary requirements.… Read More

Debt Cancellation

Debt Cancellation FASAB Contact, Melissa Batchelor, batchelorm@fasab.gov, 202-512-5976 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 constrained. Some believe the Board should evaluate existing requirements and eliminate any unnecessary requirements. When appropriate, the Board… Read More

Materiality

Materiality FASAB Contact: fasab@fasab.gov, 202-512-7350 Project Summary: On May 4, 2020, FASAB issued Statement of Federal Financial Accounting Concepts (SFFAC) 9 titled Materiality: Amending Statement of Federal Financial Accounting Concepts (SFFAC) 1, Objectives of Federal Financial Reporting, and SFFAC 3, Management’s Discussion and Analysis. Project Objective: This is a sub-project of the Reporting Model Phase… Read More

Reporting Model Phase I: MD&A and Stewardship Investments Improvements

Reporting Model Phase I: MD&A and Stewardship Investments Improvements FASAB Contact: Ross Simms, simms@fasab.gov, 202-512-2512 Project Summary The Board agreed in April 2019 to a number of amendments to MD&A through the Risk Reporting and Reporting Model Phase I: MD&A and Stewardship Investments Improvements projects. The decision to merge the projects into the MD&A Amendments… Read More