FASAB
FEATURED ARTICLES
All articles in this category pertain to FASAB. FASAB, or the Federal Accounting Standards Advisory Board, is the advisory committee that regulates generally accepted accounting principles (GAAP) for the federal government and its entities.
The board is comprised of nine members. Its mission is to improve federal financial reporting through accounting standards. Any government agency using federal funds reports under FASAB.
Learn more about FASAB below.
Recent articles
GASB Proposes Recognizing More Leased Assets and Liabilities
Accounting for leases has received considerable attention from standards setters in recent years. Under current FASB and GASB accounting rules, many leases are structured to avoid the recognition of leased assets and corresponding liabilities on the balance sheet....