- About
- Standards
- Board Activities
- Projects
- Active Projects
- AICPA Omnibus
- Asbestos-Related Liabilities
- Concepts – The Financial Report
- Concepts – Federal Entity
- Deferred Maintenance & Asset Impairment
- Earmarked Funds (Evaluating Existing Standards)
- Investments and Other Equity Interests in Non-Federal Entities
- Leases
- Natural Resources
- Risk Assumed
- Stewardship Investments
- Archived Projects
- Application of the Liability Definition
- Concepts – Elements
- Concepts – Measurement Attributes
- Concepts – Objectives
- Estimating the Historical Cost of General Property, Plant, and Equipment
- FASB Reporting by Federal Entities
- Fiscal Sustainability Reporting: SFFAS 36
- Grant Programs: Accrual Estimates
- Heritage Assets and Stewardship Land
- Inter-Entity Costs
- Managerial Cost Accounting – Federal Reporting Model
- Reporting Changes in Assumptions and Other Issues
- Social Insurance
- Staff Implementation Guidance 31.1: Guidance for Implementation of Statement of Federal Financial Accounting Standards 31, Accounting for Fiduciary Activities
- Active Projects
- Resources
- Technical Inquiries
- Newsroom
Our Mission and Objectives
The mission of the Federal Accounting Standards Advisory Board (FASAB) is to develop accounting standards after considering the financial and budgetary information needs of congressional oversight groups, executive agencies, and the needs of other users of federal financial information.
Accounting and financial reporting standards are essential for public accountability and for an efficient and effective functioning of our democratic system of government. Thus federal accounting standards and financial reporting play a major role in fulfilling the government’s duty to be publicly accountable and can be used to (1) assess the government’s accountability and its efficiency and effectiveness, and (2) contribute to the understanding of the economic, political, and social consequences of the allocation and various uses of federal resources.
FASAB strives to develop accounting standards that:
- Result in the federal government and its agencies providing users of financial reports with understandable, relevant, and reliable information about the financial position, activities, and results of operations of the United States Government and its component units, and
- Foster the improvement of accounting systems and effective internal controls that will help provide reasonable assurance that governmental activities are conducted economically, efficiently, and effectively, and in compliance with applicable laws and regulations.
FASAB Facts
Listserv