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The Federal Accounting Standards Advisory Board: An Introduction for Non‐Accountants
Author(s) -
Bramlett Robert W.
Publication year - 1991
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00916
Subject(s) - accounting , accounting standard , constitutionality , business , financial accounting , fund accounting , governmental accounting , generally accepted auditing standards , accounting information system , political science , law , constitution
This article discusses the disagreement over set accounting standards for federal agencies that GAO published in “Title 2” of its Policies and Procedures Manual for the Guidance of Federal Agencies . The Office of Management and Budget has declined to require agencies to follow the standards although many agencies do follow the standards in completing financial statements. These differences are a result of doubt regarding the appropriateness of the standards as well as the constitutionality of the standards. Therefore, the Federal Accounting Standards Advisory Board was created with the goal of securing agreement on standards for federal accounting.