FASAB: Amending SFFAS No. 6 and SFFAS No. 8 Accounting for Property, Plant, and Equipment and Supplementary Stewardship Reporting

This document is a conceptual statement on the objectives of financial reporting by the federal government. It focuses on the uses, user needs, and objectives of such reporting. The objectives are designed to guide the Federal Accounting Standards Advisory Board in developing accounting standards to enhance the financial information reported by the federal government to (1) demonstrate its accountability, (2) provide useful information, and (3) help internal users of financial information improve the government's management. In addition to guiding the Board, the objectives may serve as useful guidance to others involved in federal financial reporting.