Public Sector Financial Accounting Framework approved

http://www.accountingtoday.com/news/accounting-news/public-sector-financial-reporting-framework-approved-72037-1.html IPSAS expects this to be released by end of October 2014. The final four chapters have been completed of this initiative.

Unclaimed and abandoned property

http://www.aicpa.org/Publications/TaxAdviser/2014/september/Pages/SALT_Sept2014.aspx This article address the issues around escheats. States may scramble to get to the unclaimed property as a source of revenue; technically it is not a tax, and yet may be an important source of revenue to any given jurisdiction. This article highlights some of the issues in this area.

8 bond downgrades under Governor Christie

http://watchdogwire.com/new-jersey/2014/09/10/bums-rush-new-jerseys-credit-rating-downgraded-for-record-eighth-time-under-christie/ The response includes a reference to the bondraters as "bums".