文档介绍：Federal Accounting Standards Advisory Board
FASAB VOLUME I, ORIGINAL STATEMENTS
STATEMENTS OF
FEDERAL FINANCIAL
ACCOUNTING
CONCEPTS AND
STANDARDS
as of February 28, 1997
SFFAC Nos. 1-2
SFFAS Nos. 1-8
Selected Materials
GAO Document #
FOREWORD
This volume is the first of a two volume set referred to as the "Codification." It
contains the original text that currently constitutes the body of accounting concepts and
standards for the . Government. Specifically, the volume incorporates the following
documents published through February 28, 1997:
-- Statements of Federal Financial Accounting Concepts 1 & 2, and
-- Statements of Federal Financial Accounting Standards 1-
Origins of the Statements
The concepts and standards presented in the two volume set resulted from the joint
efforts of the Department of the Treasury (Treasury), the Office of Management and Budget
(OMB), and the General Accounting Office (GAO). These three central agencies, referred to
collectively as the "principals", established the Federal Accounting Standards Advisory Board
(FASAB) in 1990. FASAB was created to consider and mend accounting standards and
The principals ultimately decide upon the principles and standards.
The Codification includes only those principles and standards agreed to by the
principals. FASAB is publishing the Codification as prehensive basis of accounting for
Federal reporting entities. It is expected that FASAB will continue to mend statements
on specialized topics. As new statements and interpretations are adopted, the Codification
will be updated.
Purpose of the Codification
The Codification of Federal accounting concepts and standards is a two volume set
with extensive cross-referencing and indexing. The volumes are designed to meet the needs
of users for references to original statements (Volume I) and to standards alphabetized by
topic (Volume II). Both volumes serve as authoritative references