The Governmental Accounting Standards Board's agenda for 2006 will rank among its most ambitious ever.Within the first few months of the year, it may have six or more projects underway, with exposure drafts going out the door as comment letters are coming in.
As 2005 came to a close, the board was receiving the last comments on an exposure draft on sales and pledges of receivables and future revenues. And as 2006 opened, the board was preparing to issue an ED on pollution remediation obligations. By February, the board expected to issue an ED of a technical bulletin on accounting for Medicare Part D prescription drug subsidies.
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