FASAB
FASAB ----------------------------------- ------------------------------ accounting FOR REVENUEANDOTHER FINANCING SOURCESAND CONCEPTS FOR RECONCILING BUDGETARY AND FINANCIAL ACCOUNTINGStatement of Recommended accounting Standards Number 7April 1996This is the original Standard file; please check for the most recent update in the FASAB Handbook at ________________________________________ ______________This is the original Standard file; please check for the most recent update in the FASAB Handbook at ________________________________________ ______________APPLICABILITY, MATERIALITY, AND TERMINOLOGYThese standards apply to general purpose financial reports Government reporting entities. These standards need not beapplied to immaterial items unless otherwise noted. Statement ofFederal Financial accounting Concepts No. 2 (SFFAC No. 2),Entity and Display, lists criteria for defining Governmentreporting entities. Paragraph 78 of Entity and Display notesthat some of a reporting entity's components may be required bylaw or policy to issue financial statements in accordance withaccounting standards other than those recommended by the FASABand issued by the OMB and the GAO, , accounting standardsissued by the Financial accounting Standards Board or by aregulatory agency.
statement of federal financial accounting standards number 7 preface..... i executive summary..... 1 accounting standards for revenue and other financing sources ..
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