Government Accounting
FEATURED ARTICLES
All articles in this category pertain to government accounting. Government accounting encompasses recording and managing the financial transactions and financial reporting of the government.
Government agencies are funded by taxes and grants. Because they use taxpayer money to provide the public with goods and services, a level of transparency is expected with their financial data. There are organizations in place for government agencies to help regulate the accounting processes for their expenses, such as the FASAB and GASB.
Learn more about government accounting below.
Recent articles
May 2022 GASB Update: Statement No. 99 Explained (GASB 87 & GASB 96)
This article provides an update to the GASB standards. GASB 99 discusses additional info on GASB 87 and GASB 96.
FASAB proposes changes in federal lease accounting
This article discusses the recent updates from The FASAB.
GASB releases omnibus guidance updating various standards
This article highlights The GASB’s updated guidance for different accounting issues.
How to Conduct an Inventory of Your Leases under GASB 87
Learn the definition of a lease under GASB 87 and how to create a lease inventory under the new standard.
Government accountants procrastinating on GASB leases standard
Government accountants needs to adopt the new GASB standards now to avoid scrambling in the future.
Government Fund Accounting: GASB 87 Leases Within GASB 34 Consolidation to ACFR
This article provides accounting considerations for leases under GASB 87, as well as how they become part of the statement of net position and statement of activities under GASB 34.