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FASAB issues omnibus amendments

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Sep 30, 2019

The Federal Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standards (SFFAS) No. 57, “Omnibus Amendments 2019.”

The Statement will:

  • Eliminate “the required supplementary stewardship information . . . category by rescinding [SFFAS] 8, Supplementary Stewardship Reporting.”
  • Update “references to leases in SFFAS 5, Accounting for Liabilities of the Federal Government, SFFAS 6, Accounting for Property, Plant, and Equipment, and SFFAS 49, Public-Private Partnerships: Disclosure Requirements.”
  • Make “a minor change to SFFAS 6.”

For more information, see the Statement on the FASAB’s Web site.

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