[Federal Register Volume 68, Number 32 (Tuesday, February 18, 2003)]
[Notices]
[Page 7790]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-3767]


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FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD


Issuance of Statement of Federal Financial Accounting Concepts 
(SFFAC) No. 4

AGENCY: Federal Accounting Standards Advisory Board.

ACTION: Notice of issuance of statement of Federal Financial Accounting 
Concepts (SFFAC) No. 4.

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    Board Action: Pursuant to the Federal Advisory Committee Act (Pub. 
L. 92-463), as amended, and the FASAB Rules Of Procedure, as amended in 
October, 1999, notice is hereby given that the Federal Accounting 
Standards Advisory Board (FASAB) has issued Statement of Federal 
Financial Accounting Concepts (SFFAC) No. 4, Intended Audience and 
Qualitative Characteristics for the Consolidated Financial Report of 
the United States Government.
    The Board approved the Concept in October 2002, and submitted it to 
FASAB principals for a 90-day review. The review period closed on 
January 27, 2003.
    SFFAC No. 4 identifies the primary audience of the Consolidated 
Financial Report of the U.S. Government (CFR) as external users 
represented by citizens and their intermediaries. Further, it describes 
the characteristics of the audience and the qualitative characteristics 
FASAB believes will aid in meeting the financial reporting objectives 
of the CFR. Finally, the concepts document provides that the CFR should 
be a ``general purpose'' report that should be highly understandable 
and timely.
    The concepts prescribed in SFFAC No. 4 are effective for periods 
beginning after September 30, 2002. Hard copies of the concept will be 
mailed to the FASAB mailing list. It is also available on the FASAB web 
site at http://www.fasab.gov or by calling 202-512-7350.

FOR FURTHER INFORMATION CONTACT: Wendy Comes, Executive Director, 441 G 
St., NW., Mail Stop 6K17V, Washington, DC 20548, or call (202) 512-
7350.

    Authority: Federal Advisory Committee Act. Pub. L. 92-463.

    Dated: February 10, 2003.
Wendy M. Comes,
Executive Director.
[FR Doc. 03-3767 Filed 2-14-03; 8:45 am]
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