Revenue Reexamination

FASAB Contact: R. Alan Perry, perryra@fasab.gov

Background

SFFAS 7, Accounting for Revenue and Other Financing Sources and Concepts for Reconciling Budgetary and Financial Accounting, was the highest rated topic in need of reexamination by stakeholders. There have been considerable changes to the government environment since the Statement was issued in 1996 that may not be sufficiently addressed under the current standards. Further, numerous specific revenue accounting issues were raised by stakeholders for reexamination.

As part of FASAB’s overall reexamination of existing standards, the revenue research will assist the Board in identifying opportunities to clarify the core revenue principles.

History of Research