[Federal Register Volume 71, Number 116 (Friday, June 16, 2006)]
[Notices]
[Page 34935]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-5495]


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FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD


Notice of New Exposure Draft Definition and Recognition of 
Elements of Accrual-Basis Financial Statements

    Board Action: Pursuant to 31 U.S.C. 3511(d), the Federal Advisory 
Committee Act (Pub. L. 92-463), as amended, and the FASAB Rules Of 
Procedure, as amended in April, 2004, notice is hereby given that the 
Federal Accounting Standards Advisory Board (FASAB) has issued an 
exposure draft, Definition and Recognition of Elements of Accural-Basis 
Financial Statements.
    The Exposure Draft poses questions for respondents on issues such 
as the essential characteristics of assets and liabilities, deriving 
the definition of revenue and expense from the definitions of assets 
and liabilities, the government's ability to change laws in the future, 
uncertainty related to existence and measurement, and recognition 
criteria.
    The Exposure Draft is available on the FASAB home page http://www.fasab.gov/exposure.html. Copies can be obtained by contacting FASAB 
at (202) 512-7350. Respondents are encouraged to comment on any part of 
the exposure draft. Written comments are requested by August 5th, 2006, 
and should be sent to: Wendy M. Comes, Executive Director, Federal 
Accounting Standards Advisory Board, 441 G Street, NW., Suite 6814, 
Mail Stop 6K17V, Washington, DC 20548.
    For Further Information Contact: Wendy Comes, Executive Director, 
441 G Street, NW., Washington, DC 20548, or call (202 512-7350.

    Authority:  Federal Advisory Committee Act, Public Law 92-463.

    Dated: June 14, 2006.
Charles Jackson,
Federal Register Liaison Officer.
[FR Doc. 06-5495 Filed 6-15-05; 8:45 am]
BILLING CODE 1610-01-M