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FASAB issues concepts statement on federal financial reporting

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Sep 26, 2017

The FASAB has issued a concepts statement, “Federal Financial Reporting.”

Topics addressed in the concepts statement include:

  • “[C]ontent and presentation of financial statements and [required supplementary information (RSI)] for government-wide and component reporting entities.”
  • “[P]resentation of budgetary information in component reporting entity financial statements and RSI.”
  • “[P]resentation of performance information in financial statements and RSI.”
  • “[S]ummary-level information related to financial statements and RSI.”

For more information, see the press release and concepts statement on the FASAB’s Web site.

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