FASAB to Issue Federal Financial Accounting Standards

Contributed by: National Performance Review
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1. Issue a comprehensive set of federal financial accounting standards
within 18 months.

FASAB should be required to develop and issue a comprehensive set of
accounting principles and standards by March 1995. This comprehensive
set should include the 11 sets of standards noted in this report. The
board should maximize the use of task forces and a "fellows program" to
augment staff to ensure successful delivery of all standards.

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