Internet Case—FASAB. At the cutoff date for publication of this edition of the text, 32 Statements of Federal Financial Accounting Standards (SFFASs) have been issued. In addition, OMB Circular A—136 provides authoritative guidance for the form and content of federal agency financial statements.
Required
Using the Internet, explore the FASAB (www.fasab.gov) and OMB (www.omb.gov)
Web sites and determine whether
a. Any additional SFFASs have been issued. If so, list them by name and pro vide a short synopsis along with their effective dates.
b. Has the OMB updated Circular A—136? If so, how do the financial statements required by the later circular compare to those required by Circular A—136, as described and illustrated in this chapter? (Note: Previously issued OMB bulletins on form and content of agency financial statements were Bulletins Nos. 01-09, 97-01, and 94-01. Thus, the OMB may not intend to make frequent changes in its reporting guidance.)