financial reporting

Which Organization Promulgates Statements Of Federal Financial Accounting Standards?

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Which Organization Promulgates Statements Of Federal Financial Accounting Standards? The agency and governmentwide financial statements are generally required to be prepared in conformity with U.S. Generally Accepted Accounting Principles (GAAP) as promulgated by the Federal Accounting Standards Advisory Board (FASAB). What organization oversees sets the accounting standards for US government agencies? Established in 1984, the

Does Asc 606 Apply To Health Care?

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Does Asc 606 Apply To Health Care? Topic 606 allows health care providers to apply the “portfolio approach” to account for patient contracts as specific groupings, rather than individually if the financial statement effects are not expected to materially differ from the individual contract approach. Does ASC 606 apply to all companies? ASC 606 applies