FASB Seeks Public Comment

FASB Seeks Public Comment

The Federal Accounting Standards Advisory Board (FASAB) is pleased to announce three documents that are currently available for public comment. The due dates for comments are listed below.

1/29/16 – Three-Year Plan - http://www.fasab.gov/pdffiles/FASAB-ANNUAL-REPORT-2015.pdf

2/4/16 – Establishing Opening Balances for General PP&E - http://www.fasab.gov/pdffiles/GENPPE_OPEN_BAL_ED_2015.pdf

3/29/16 – Insurance Programs - http://www.fasab.gov/pdffiles/insurance_programs_ed.pdf


The Three-Year Plan outlines the FASAB’s future projects, and your input will help the Board determine the areas of greatest interest. Comments are requested by January 29, 2016.

For more information, please contact:
Wendy Payne
(202) 512-7350

The exposure draft, titled Establishing Opening Balances for General PP&E, addresses the Department of Defense’s request for alternative methods in establishing opening balances for general PP&E. In addition to opening balances, the exposure draft identifies a potential review of existing land accounting standards. If land accounting is reviewed, it might lead to changes for agencies other than the Department of Defense. Your comments on the current land accounting standards are solicited in the exposure draft. Comments are requested by February 4, 2016.

For more information, please contact:
Melissa Batchelor
(202) 512-5976

The exposure draft, titled Insurance Programs, seeks to establish three categories of life insurance: exchange transaction insurance programs other than life insurance, nonexchange transaction insurance programs, and life insurance programs. Comments are requested by March 29, 2016.

For more information, please contact:
Robin Gilliam
(202) 512-7356