Financial value [check] [check] Valuation methods [check] [check] Cost of valuation [check] * Sources: Robbins, 1984; Trenholm & Arcelus, 1989; Hay & Antonio, 1990; Mayston, 1992; Barth & Clinch, 1998; Barton, 2000; Lee & Fisher, 2004; Mack & Ryan, 2004; Barker, 2006; Lacerra & Stafford, 2009; Aversano & Christiaens, 2014, and FRS 15, IPSAS 17, FAS 116, FAS 93, SFFAS
29, FRS 3, AASB 116 Note: DISC.: Disclosure, NARR.: Narrative, PERFO.: Performance ACCOU.: Accountability and REC: Recognition & Measurement.
The point of view provided in this article is intended to help DoD consider the appropriate path forward to comply with SFFAS
48 and SFFAS
The new provision applies to omissions of income from SFFAs
that exceed $5,000.
1.6038D-6, under which specified domestic entities would be required to report SFFAs
. However, until that proposed regulation is finalized, the requirement to report SFFAs
applies only to individual taxpayers.
Until now, the requirement to report SFFAs
applied only to individuals, but the IRS is also authorized to apply the reporting requirement to any domestic entity that is formed or availed of principally to avoid reporting (a specified domestic entity).
However, the lack of focus on following that guidance has placed the assets acquired between October 1,2013 and today in the same position as the GPP&E assets acquired before October 1, 2013-with supporting documentation that likely does not meet the requirements of SFFAS
that must be reported on Form 8938 are broadly defined to include financial accounts in foreign financial institutions and other foreign financial accounts or instruments held for investment.
The appendices to SFFAS
24 illustrate these two statements using line-item descriptions such as "components of net operating revenue not part of the budget surplus." The FASAB acknowledged that even the phrase "budget surplus" could be misleading to the average reader, but also declared, in paragraph 27, that these statements were designed with SFFAC 4 and the needs of the average citizen in mind.
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.
Further afield, the San Francisco Fall Art & Antiques Show (SFFAS
), now in its 35th year, attracts art and antiques enthusiasts from the West Coast and beyond (27-30 October).
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:
The foreign assets that specified persons must report under FATCA are known as "specified foreign financial assets" (SFFAs