SFFAS

AcronymDefinition
SFFASStatement of Federal Financial Accounting Standards
SFFASSan Francisco Fall Antiques Show
SFFASSuperfund Financial Assessment System (EPA)
References in periodicals archive ?
The efforts on establishing opening balances for inventory and related property and PP&E has diminished the focus for many DoD components on fully complying with SFFAS 48 and SFFAS 50.
The key to successful application of SFFAS 48 and SFFAS 50 is for the DoD to operate in compliance with all of the relevant accounting standards prior to making an unreserved assertion regarding the opening balances of inventory and related property and PP&E.
With respect to the selection of assumptions for pension, ORB, and OPEB liabilities, including the discount rate assumption, SFFAS 5 emphasizes expected long-term future trends rather than recent past experience.
Some entities interpreted the SFFAS 5 standard with respect to other postemployment benefits (OPEB) to require the use of single-day Treasury rates for the discount rates.
As with alternate valuation, SFFAS 35 and the recommendations from the external consultant guided the USCG in determining the following Date-In-Service method hierarchy:
26 of SFFAS 6 for examples of the costs to be considered).
Multi-use heritage assets acquired through donation or devise should be recognized as general PP&E at the assets' fair value at the time received, and the amount should also be recognized as "nonexchange revenues" as defined in SFFAS 7, Accounting for Revenue and Other Financing Sources.
By fully implementing the provisions in SFFAS 4 (issued in July 1995) this standard will require the following for inter-entity cost:
TABLE OF CONTENTS Summary Introduction Standards of Federal Financial Accounting Amendments to SFFAS 4 Effective Date Appendix A: Basis for Conclusions Introduction Amendments to Standards Exposure Draft Responses to the ED Board Consideration of Comments Additional Guidance Effective Date Board Approval and Dissent Appendix B: List of Abbreviations
Reporting amounts of deferred maintenance by category of PP&E is a required disclosure in accordance with the SFFAS No.
The Board acknowledges that there is great uncertainty inherent in long term projections, but believes that if the uncertainty is suitably disclosed as is required by SFFAS 17--it need not preclude designating the information as a basic financial statement, essential for fair presentation in conformity with GAAP.