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GASB issues DM on grants and financial assistance.

The Governmental Accounting Standards Board issued a Discussion Memorandum, Grants and Other Financial Assistance of Cash, Food Stamps, and Vouchers.

The DM considers various issues of recognition, measurement and reporting of grants and other financial assistance received and given, including

* What are pass-through grants for agency fund reporting?

* What is the most appropriate method of recognizing grant revenues and expenditures in accrual basis operating statements?

* When should expenditures for voucher programs be recognized by grantor governments?

* Should accounting and financial reporting for food stamp and similar voucher programs be different from those for cash programs?

* Should payments made by one government to a third party for the fringe benefits of another government be reported in the financial statements of the employer government? How should the government making the payments report them?

Before August 14, 1992, one copy of the DM is available without charge. For prices on additional copies or late requests, contact the GASB order department, 401 Merritt 7, P.O. Box 5116, Norwalk, Connecticut 06856-5116. Telephone: (203) 847-0700, ext. 10.

Written comments on the issues should be sent by August 14, 1992, to the director of research, Project no. 4-1, GASB, 401 Merritt 7, P.O. Box 5116, Norwalk, Connecticut 06856-5116.
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Title Annotation:Governmental Accounting Standards Board issues Discussion Memorandum
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Jul 1, 1992
Words:203
Previous Article:Preliminary views on how to implement GASB 11.
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