FASAB releases annual handbook
January 24, 2024
By Bryan Strickland
The Federal Accounting Standards Advisory Board (FASAB) published the latest body of accounting concepts and standards for the U.S. government.
Version 22 of the FASAB Handbook of Federal Accounting Standards and Other Pronouncements, As Amended adds nearly 18 months of board pronouncements made since the previous version. FASAB announced over the summer that the annual publication would be delayed, allowing the new version to incorporate pronouncements issued between June 30, 2022, and Dec. 15, 2023.
"The delayed publication of version 22 provided additional time for the board to complete due process on some key leases-related pronouncements," FASAB Executive Director Monica Valentine said in a news release. "It also provided time for staff to integrate amendments into the suite of previously issued pronouncements affected by these recent issuances — including leases-related pronouncements that are effective for the fiscal year 2024 reporting period."
The nearly 2,900-page document, in PDF form, can be accessed via the FASAB standards and guidance webpage.