Government accounting

Government budgets are prepared with “wild, wild west” accounting rules.

The Federal Accounting Standards Advisory Board released a standard for accounting and financial reporting on government-owned land and delayed the effective date due to the pandemic.

The Governmental Accounting Standards Board released a proposed concepts statement to guide GASB when establishing note disclosure requirements for state and local governments.

The exposure draft covers various accounting and financial reporting issues that were identified during implementation, application, and due process on GASB standards.

The board released updated implementation guidance for its leases standard, along with other accounting standards for state and local governments.

The Governmental Accounting Standards Board issued a proposal to improve the accounting and financial reporting requirements for state and local governments.

The international board released four proposals for improving various aspects of government accounting.

The board proposed changing “comprehensive annual financial report” to “annual comprehensive financial report” because the abbreviation sounds like a racist term in South Africa.

The Governmental Accounting Standards Board is looking for feedback on a proposal to improve the guidance on compensated absences for state and local government employees, along with disclosure requirements.

To the detriment of many state and local governments, budget decisions are being made based on bad accounting information.

U.S. officials responsible for preparing for a pandemic routinely raided funds for public health emergencies, diverting money from vaccine development to pay for other projects at the U.S. Department of Health and Human Services, a federal watchdog said Wednesday.

Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it. Now, perhaps Joe Biden will.

The Governmental Accounting Standards Board is giving state and local governments extra time to implement its new leases standard because of the coronavirus pandemic, and they will need it.

The International Public Sector Accounting Standards Board has deferred the effective dates of several upcoming standards and amendments amid the COVID-19 pandemic.

The institute is asking the U.S. government to help authorities in Liberia investigate the recent deaths of four government auditors who were looking into possible misappropriation of funds.

At least 39 states did not have enough money to pay all of their bills at the end of 2019, leaving them ill-prepared to shoulder the costs of the novel coronavirus pandemic, according to a new report.

The Governmental Accounting Standards Board is working on developing new standards for state and local governments to use under its new chair, Joel Black, while responding to the novel coronavirus pandemic.

The Governmental Accounting Standards Board is proposing a set of improvements in how state and local governments report on their financial condition.

The Governmental Accounting Standards Board released a technical bulletin with guidance for applying existing GASB standards to transactions related to the CARES Act and outflows incurred in response to the COVID-19 pandemic.

When Joel Black succeeds David Vaudt as chair on July 1, none of the board's seven members will have served as a state auditor or treasurer.