Every day, tens of thousands of people are involved in the financial management of the federal government--planning, budgeting, accounting, processing, and reporting. Hundreds of thousands more deal with the federal government through their work with local and state governments, the public sector, and nonprofit organizations. Likewise, federal contractors, subcontractors, and grantees are responsible for accurately accounting for and reporting on their use of federal funds. Every one of these professionals needs to understand and abide by the federal accounting principles and procedures currently accepted and practiced, most of which are not necessarily the generally accepted accounting principles of the private sector, nonprofit sector, or other levels of government.

Now in a second edition, Federal Accounting Handbook is the handbook that every financial federal employee can use, covering all of the recent revisions including new FASAB standards and how Congress wants the intent and objectives of the Sarbanes-Oxley Act to be implemented by federal departments and agencies. Written for both the professional and the non-professional, this handbook equips you with the what, why, when, and how of federal financial management, including: Financial Management Legislation and Policy The Chief Financial Officers Act of 1990 Federal Accounting Standards Advisory Board Pronouncements Office of Management and Budget Circulars and Bulletins The Federal Budget Accounting Events of the Federal Government Federal Financial and Information Systems Assets, Liabilities, and Net Entity Position Non-Appropriated Fund Activities Costing Federal Entities, Programs, and Activities And much more

ESSENTIAL INFORMATION FOR: Federal accountants, budget officials, directors, and the staffs of chief financial officers, inspectors general, and internal auditors All CPAs, CGFMS, and CFAs Federal consultants, contractors, and grantees Professionals aspiring to credentials Anyone doing business with the federal government

Also available: Federal Government Auditing: Laws, Regulations, Standards, Practices, and Sarbanes-Oxley OMB Circular A-123 and Sarbanes-Oxley: Management's Responsibility for Internal Control in Federal Agencies Wiley GAAP for Governments 2006