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RE: Statement of Federal Financial Accounting Standards Exposure Draft Dear Ms. Payne: Thank you for the opportunity to share with the Federal Accounting Standards Advisory Board the (2013)
BibTeX
@MISC{Wendy13re:statement,
author = {Ms. Wendy and M. Payne and Executive Director},
title = {RE: Statement of Federal Financial Accounting Standards Exposure Draft Dear Ms. Payne: Thank you for the opportunity to share with the Federal Accounting Standards Advisory Board the},
year = {2013}
}
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Abstract
Accounting Standards Exposure Draft, Reporting Entity, dated April 3, 2013 (hereinafter referred to as the “ED”). We respectfully provide responses below to your questions regarding the ED, with additional commentary on the ED provided at the end of this document. Q1. The Board is proposing three inclusion principles for an organization to be included in the government-wide GPFFR: An organization with an account or accounts listed in the Budget of the United States Government: Analytical Perspectives—Supplemental Materials schedule entitled “Federal Programs by Agency and Account ” unless the organization is a non-federal organization receiving federal financial assistance An organization in which the federal government holds a majority ownership interest An organization that is controlled by the federal government with risk of loss or expectation of benefit In addition, the Board is proposing that an organization be included in the government-wide GPFFR if it would be misleading to exclude it even though it does not meet one of the three inclusion principles.
Keyphrases
federal accounting standard advisory board inclusion principle federal government government-wide gpffr non-federal organization reporting entity united state government analytical perspective supplemental material schedule accounting standard exposure draft majority ownership interest federal program federal financial assistance additional commentary
