96-18981. Accounting for Revenue and Other Financing Sources and Concepts for Reconciling Budgetary and Financial Accounting

[Federal Register Volume 61, Number 145 (Friday, July 26, 1996)]
[Notices]
[Pages 39164-39165]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18981]


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OFFICE OF MANAGEMENT AND BUDGET


Accounting for Revenue and Other Financing Sources and Concepts 
for Reconciling Budgetary and Financial Accounting

AGENCY: Office of Management and Budget.

ACTION: Notice of document availability.

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[[Page 39165]]

SUMMARY: This Notice indicates the availability of the seventh 
Statement of Federal Financial Accounting Standards, ``Accounting for 
Revenue and Other Financing Sources and Concepts for Reconciling 
Budgetary and Financial Accounting,'' adopted by the Office of 
Management and Budget (OMB). The statement was recommended by the 
Federal Accounting Standards Advisory Board (FASAB) and adopted in its 
entirety by OMB. This Notice also indicates the availability of an 
implementation guide developed by the FASAB to assist users in 
implementing the statement.

ADDRESSES: Copies of the Statement of Federal Financial Accounting 
Standards No. 7, ``Accounting for Revenue and Other Financing Sources 
and Concepts for Reconciling Budgetary and Financial Accounting,'' and 
accompanying implementation guide may be obtained for $18.00 per set 
from the Superintendent of Documents, Government Printing Office, 
Washington, DC 20402-9325 (telephone [phone]), Stock No. 041-001-
00475-1.

FOR FURTHER INFORMATION CONTACT: Ronald Longo (telephone: 202- 395-
3993), Office of Federal Financial Management, Office of Management and 
Budget, 725-17th Street, N.W.--Room 6025, Washington, DC 20503.

SUPPLEMENTARY INFORMATION: This Notice indicates the availability of 
the seventh Statement of Federal Financial Accounting Standards, 
``Accounting for Revenue and Other Financing Sources and Concepts for 
Reconciling Budgetary and Financial Accounting.'' The standard was 
recommended by the Federal Accounting Standards Advisory Board (FASAB) 
in April 1996, and adopted in its entirety by the Office of Management 
and Budget (OMB). This Notice also indicates the availability of an 
implementation guide developed by the FASAB to assist users in 
implementing the statement.
    Under a Memorandum of Understanding among the General Accounting 
Office, the Department of the Treasury, and OMB on Federal Government 
Accounting Standards, the Comptroller General, the Secretary of the 
Treasury, and the Director of OMB decide upon principles and standards 
after considering the recommendations of FASAB. After agreement to 
specific principles and standards, they are to be published in the 
Federal Register and distributed throughout the Federal Government.
G. Edward DeSeve,
Controller.
[FR Doc. 96-18981 Filed 7-25-96; 8:45 am]
BILLING CODE 3110-01-P