Melissa Sizemore, CPA, CGFM, discusses the unique complexities of federal financial reporting in this LumiQ podcast. She explores why government accounting differs from for-profit standards, the role of the Federal Accounting Standards Advisory Board (FASAB) and key elements like the Statement of Budgetary Resources (SBR). Melissa also highlights the distinct disclosures federal agencies must make, including social programs and pension liabilities, and explains the significance of Fund Balance with Treasury in federal balance sheets.
Listen to the full episode here: Navigating U.S. Federal Financial Reporting
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