[Federal Register Volume 74, Number 147 (Monday, August 3, 2009)]
[Notices]
[Pages 38427-38428]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-18449]


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FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD


Notice of Issuance of Statement of Federal Financial Accounting 
Standards (SFFAS) 34, ``The Hierarchy of Generally Accepted Accounting 
Principles for Federal Entities, Including the Application of Standards 
Issued by the Financial Accounting Standards Board''

AGENCY: Federal Accounting Standards Advisory Board.

ACTION: Notice.

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    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 
Statement of Federal Financial Accounting Standards (SFFAS) 34, The 
Hierarchy of Generally Accepted Accounting Principles for Federal 
Entities, Including the Application of Standards Issued by the 
Financial Accounting Standards Board.

[[Page 38428]]

    SFFAS 34 incorporates the hierarchy of generally accepted 
accounting principles (GAAP) into the FASAB's authoritative literature. 
The ``GAAAP hierarchy'' consists of the sources of accounting 
principles used in the preparation of financial statements of Federal 
reporting entities that are presented in conformity with GAAP and the 
framework for selecting those principles.
    The statement is available on the FASAB home page http://www.fasab.gov/exposure.html. Copies can be obtained by contacting FASAB 
at (202) 512-7350.

FOR FURTHER INFORMATION CONTACT: Wendy Payne, Executive Director, at 
(202) 512-7350.

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

    Dated: July 29, 2009.
Charles Jackson,
Federal Register Liaison Officer.
[FR Doc. E9-18449 Filed 7-31-09; 8:45 am]
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