FASAB

1 FEDERAL ACCOUNTING STANDARDS ADVISORY BOARDFASABFASAB Handbook of Federal Accounting Standards andOther Pronouncements, asAmended as of June 30, 2013 SFFAC 1-7 SFFAS 1-44 Interpretations 1-7 Technical Bulletins Technical Releases 1-14 Staff Implementation GuidancePage iFASAB Handbook, Version 12 (06/13) ContentsEnclosure 1 ForewordPreamble to Statements of Federal Financial Accounting ConceptsStatement of Federal Financial Accounting Concepts Statement of Federal Financial Accounting Concepts 1: Objectives of Federal Financial ReportingStatement of Federal Financial Accounting Concepts 2: Entity and DisplayStatement of Federal Financial Accounting Concepts 3: Management s Discussion and AnalysisStatement of Federal Financial Accounting Concepts 4: Intended Audience and Qualitative Characteristics for the Consolidated Financial Report of the United States GovernmentStatement of Federal Financial Accounting Concepts 5.

2 Definitions of Elements and Basic Recognition Criteria for Accrual-Basis Financial StatementsStatement of Federal Financial Accounting Concepts 6: Distinguishing Basic Information, Required Supplementary Information, and Other Accompanying InformationStatement of Federal Financial Accounting Concepts 7: Measurement of the Elements of Accrual-Basis Financial Statements in Periods After Initial RecordingStatement of Federal Financial Accounting Standards Statement of Federal Financial Accounting Standards 1: Accounting for Selected Assets and LiabilitiesStatement of Federal Financial Accounting Standards 2: Accounting for Direct Loans and Loan GuaranteesStatement of Federal Financial Accounting Standards 3: Accounting for Inventory and Related PropertyStatement of Federal Financial Accounting Standards 4.

3 Managerial Cost Accounting Standards and ConceptsStatement of Federal Financial Accounting Standards 5: Accounting for Liabilities of The Federal GovernmentStatement of Federal Financial Accounting Standards 6: Accounting for Property, Plant, and EquipmentContentsPage iiFASAB Handbook, Version 12 (06/13) Statement of Federal Financial Accounting Standards 7: Accounting for Revenue and Other Financing Sources and Concepts for Reconciling Budgetary and Financial AccountingStatement of Federal Financial Accounting Standards 8: Supplementary Stewardship ReportingStatement of Federal Financial Accounting Standards 9: Deferral of the Effective Date of Managerial Cost Accounting Standards for the Federal Government in SFFAS No.

4 4 Statement of Federal Financial Accounting Standards 10: Accounting for Internal Use SoftwareStatement of Federal Financial Accounting Standards 11: Amendments to Accounting for Property, Plant, and Equipment - Definitional Changes - Amending SFFAS 6 and SFFAS 8 Accounting for Property, Plant, and Equipment and Supplementary Stewardship ReportingStatement of Federal Financial Accounting Standards 12: Recognition of Contingent Liabilities Arising from Litigation: An Amendment of SFFAS 5, Accounting for Liabilities of the Federal GovernmentStatement of Federal Financial Accounting Standards 13: Deferral of Paragraph Material Revenue-Related Transactions DisclosuresStatement of Federal Financial Accounting Standards 14: Amendments to Deferred Maintenance Reporting Amending SFFAS 6, Accounting for Property, Plant and Equipment and SFFAS 8, Supplementary Stewardship ReportingStatement of Federal Financial Accounting Standards 15.

5 Management s Discussions and AnalysisStatement of Federal Financial Accounting Standards 16: Amendments to Accounting For Property, Plant, and Equipment Measurement and Reporting for Multi-Use Heritage Assets: Amending SFFAS 6 and SFFAS 8 Accounting for Property, Plant, and Equipment and Supplementary Stewardship ReportingStatement of Federal Financial Accounting Standards 17: Accounting for Social InsuranceStatement of Federal Financial Accounting Standards 18: Amendments to Accounting Standards For Direct Loans and Loan Guarantees in Statement of Federal Financial Accounting Standards No.

6 2 Statement of Federal Financial Accounting Standards 19: Technical Amendments to Accounting Standards For Direct Loans and Loan Guarantees in Statement of Federal Financial Accounting Standards No. 2 ContentsPage iiiFASAB Handbook, Version 12 (06/13) Statement of Federal Financial Accounting Standards 20: Elimination of Certain Disclosures Related to Tax Revenue Transactions by the Internal Revenue Service, Customs, and Others, Amending SFFAS 7, Accounting for Revenue and Other Financing SourcesStatement of Federal Financial Accounting Standards 21.

7 Reporting Correction of Errors and Changes in Accounting Principles, Amendment of SFFAS 7, Accounting for Revenue and Other Financing SourcesStatement of Federal Financial Accounting Standards 22: Change in Certain Requirements for Reconciling Obligations and Net Cost of Operations, Amendment of SFFAS 7, Accounting for Revenue and Other Financing SourcesStatement of Federal Financial Accounting Standards 23: Eliminating the Category National Defense Property, Plant, and EquipmentStatement of Federal Financial Accounting Standards 24: Selected Standards for the Consolidated Financial Report of the United States GovernmentStatement of Federal Financial Accounting Standards 25: Reclassification of Stewardship Responsibilities and Eliminating the Current Services AssessmentStatement of Federal Financial Accounting Standards 26: Presentation of Significant Assumptions for the Statement of Social Insurance.

8 Amending SFFAS 25 Statement of Federal Financial Accounting Standards 27: Identifying and Reporting Earmarked FundsStatement of Federal Financial Accounting Standards 28: Deferral of the Effective Date of Reclassification of the Statement of Social Insurance: Amending SFFAS 25 and 26 Statement of Federal Financial Accounting Standards 29: Heritage Assets and Stewardship LandStatement of Federal Financial Accounting Standards 30: Inter-Entity Cost Implementation: Amending SFFAS 4, Managerial Cost Accounting Standards and ConceptsStatement of Federal Financial Accounting Standards 31: Accounting for Fiduciary ActivitiesStatement of Federal Financial Accounting Standards 32: Consolidated Financial Report of the United States Government Requirements.

9 Implementing Statement of Federal Financial Accounting Concepts 4 Intended Audience and Qualitative Characteristics for the Consolidated Financial Report of the United States Government ContentsPage ivFASAB Handbook, Version 12 (06/13) Statement of Federal Financial Accounting Standards 33: Pensions, Other Retirement Benefits, and Other Postemployment Benefits: Reporting the Gains and Losses from Changes in Assumptions and Selecting Discount Rates and Valuation DatesStatement of Federal Financial Accounting Standards 34: The Hierarchy of Generally Accepted Accounting Principles, Including the Application of Standards Issued by the Financial Accounting Standards BoardStatement of Federal Financial Accounting Standards 35: Estimating the Historical Cost of General Property, Plant, and Equipment.

10 Amending Statements of Federal Financial Accounting Standards 6 and 23 Statement of Federal Financial Accounting Standards 36: Comprehensive Long-Term Projections for the GovernmentStatement of Federal Financial Accounting Standards 37: SocialInsurance: Additional Requirements for Management s Discussion and Analysis and Basic Financial StatementsStatement of Federal Financial Accounting Standards 38: Accounting for Federal Oil and Gas ResourcesStatement of Federal Financial Accounting Standards 39: Subsequent Events: Codification of Accounting and Financial Reporting Standards Contained in the AICPA