Accounting April 13, 2026
The Governmental Accounting Standards Board is considering a possible change to its structure for communicating GAAP to state and local governments—from its current dual-authority structure to a single-authority approach.
April 9, 2026
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January 14, 2026
June 24, 2014
The Financial Accounting Foundation (FAF) today appointed Washington State investment official Gary H. Bruebaker to the FAF Board of Trustees, effective July 1. Bruebaker currently is the chief investment officer for the Washington State Investment Board in Olympia, Washington.
June 18, 2014
On Monday, the Governmental Accounting Standards Board (GASB) published two proposed Statements intended to significantly improve financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also published a third Exposure Draft that would establish requirements for pensions and pension plans that are outside the scope…
June 18, 2014
The Financial Accounting Standards Board (FASB) has issued a new standard to improve the financial reporting of repurchase agreements and other similar transactions. Accounting Standards Update No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements.
June 10, 2014
Improved audit quality is a goal being pursued by the Public Company Accounting Oversight Board (PCAOB), and a non-partisan audit advocacy group is supporting its recent efforts.
June 5, 2014
Members of the TRG include financial statement preparers, auditors and users representing a wide spectrum of industries, geographical locations and public and private companies and organizations.
June 4, 2014
The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of two new members to the Governmental Accounting Standards Advisory Council (GASAC).
June 4, 2014
Financial information and technology company Thomson Reuters has released a special report, An Overview of the Revised Accounting Model for Revenue Recognition, which provides useful insights for corporate management teams, shareholders, lenders, analysts, investors, regulators, and accounting firms that utilize revenue to monitor organizations' financial performance and general financial health.
May 28, 2014
The Governmental Accounting Standards Board (GASB) has voted unanimously to approve two Exposure Drafts proposing significant improvements to financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also approved a third Exposure Draft that would establish requirements for pensions and pension plans that are outside…
May 28, 2014
The standard will improve the financial reporting of revenue and improve comparability of the top line in financial statements globally. Revenue is a vital metric for users of financial statements and is used to assess a company’s financial performance and prospects. However, the previous requirements of both IFRS and U.S. GAAP were different and often…
May 19, 2014
The Governmental Accounting Standards Board (GASB) today issued for public comment a proposed Statement addressing accounting and financial reporting issues related to fair value measurements.
May 13, 2014
The IASB has clarified that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset.
May 8, 2014
The Financial Accounting Foundation (FAF), which oversees FASB and GASB, has issued its 2013 Annual Report, detailing the organization's activities and key issues during the past year.