FASAB Overview and Update

Gain an overview of FASAB concepts and standards, the standard-setting process and an update regarding FASAB’s most recent projects. It is designed for accountants, auditors, financial managers and others.

Learning Objectives

This course covers:

  • Statements of Federal Financial Accounting Concepts (SFFAC), including the latest releases 
  • Criteria regarding when the elements should be reported on the face of the financial statements [SFFAC 5]
  • Distinguishing basic information, required supplementary information and other accompanying information [SFFAC 6]
  • Measurement concepts for assigning value to the elements [SFFAC 7]
  • The most critical statements of federal financial accounting standards
  • New best practices for management’s discussion and analysis of performance and financial results

Related Courses

  • Accounting Principles in the Federal Government
  • Basic Federal Accounting Principles
  • CGFM Course 2: Governmental Accounting, Financial Reporting and Budgeting
  • Field(s) of Study

    Accounting (Governmental)

    Course Length

    1 day

    Course Level



    Hester, Chuck

    CPE Hours


    Group Cost

    Questions? onsitecourses@agacgfm.org or 703.684.6931, ext. 303.