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… Read More

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 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 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 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 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 FASAB Contact: Ricky Perry, perryra@fasab.gov 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… Read More

Reporting Model Phase I: MD&A and Stewardship Investments Improvements FASAB Contact: Robin Gilliam, gilliamr@fasab.gov, 202-512-7356 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 project… Read More