Thursday, July 30, 2009

GAAP Hierarchy for federal entities

http://www.journalofaccountancy.com/Web/20091970.htm
Federal Accounting Standards Advisory Board (FASAB) issued standard SFFAS 34, that incorporates the hierarchy of generally accepted accounting principles (GAAP) into FASAB’s authoritative literature.

Monday, July 6, 2009

2009 Survey of Governmental CFOS

http://www.grantthornton.com/staticfiles/GTCom/Public%20sector/CFO%20survey/2009%20AGA%20Survey.pdf is located at this link. It is titled The Recovery and Transparency Imperative. This annual survey is sponsored by the AGA and Grant Thornton, andinterviewed and surveyed State Financial Officers in US and Canada CFOs. The results emphasized the importance of financial management and transparency in these economic times, and included advice for new CFOs (#1 was attending to the relationships with stakeholders, notice this and several other of the top pieces of advice was not technical, but behavioral). Also guidelines for making the annual reports more transparent are provided in this 32 page easy to read document.