The Governmental Accounting Standards Board has released new standards aimed at improving the accounting and reporting of combinations and disposals of government operations for U.S. state and local governments.

Red Wing Software has created a report tool within its CenterPoint Payroll Software designed to track employee status for the upcoming Patient Protection and Affordable Care Act (PPACA) requirement that employers with 50 or more full time employers must offer health coverage.

The Financial Accounting Foundation has completed a post-implementation review of an accounting standard dating back to 1996 that aimed to improve the way public companies report financial information about their business segments, and found that it generally achieved that purpose, although some companies are being less than forthcoming about all of their business segments.

The Financial Accounting Standards Board has issued for public comment a proposal to improve financial reporting about repurchase agreements such as the type used by Lehman Brothers.

The International Public Sector Accounting Standards Board has issued the first four chapters of its Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities.

Cloud financial and accounting software company FinancialForce.com has formed trust.financialforce.com, a new site that helps describe the company’s control processes, security, application quality and platform monitoring environment.

International Accounting Standards Board chairman Hans Hoogervorst said the U.S. Financial Accounting Standards Board is not likely to face obstacles in joining the new multinational Accounting Standards Advisory Forum that is being set up to provide input to the IASB on setting future accounting standards, even though the Securities and Exchange Commission has not formally committed to supporting International Financial Reporting Standards.