Discover how modified accrual accounting merges accrual and cash basis methods, its key principles, and why it's preferred by government agencies for accurate financial reporting.

The Governmental Accounting Standards Board is getting ready to roll out new rules and proposals for state and local governments, including improvements to the financial reporting model, ...

The Governmental Accounting Standards Board released a proposed Implementation Guide with questions and answers on the ...

The Governmental Accounting Standards Board has proposed a one-year delay of the effective dates for almost all its statements and implementation guides. The proposed delay for state and local ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

State and local government pensions admit to being underfunded by over $1 trillion. But using the tougher accounting standards applied in other countries, state and local pension deficits would rise ...

GASB’s “Project 3-20: Recognition of Financial Statement Elements,” has seen its share of blowback from concerned parties. The concept would allow governments to continue their standard of cash-based ...

NORWALK, Conn.--(BUSINESS WIRE)--The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that it has appointed Joel M. Black as the next chair of the Governmental Accounting ...

This year has been wrought with financial turmoil for nearly all Americans. From low-wage workers to small business owners, millions of Americans have experienced financial stress courtesy of the ...

The Federal Accounting Standards Advisory Board (FASAB) issues an exposure draft, Accounting for Fiduciary Activities ( www.fasab.gov/pdf/trustf1.pdf ). The proposed ...