The Federal Accounting Standards Advisory Board (FASAB) issues Technical Bulletin 2003-1, Certain Questions and Answers Related to The Homeland Security Act of 2002. (Government Accounting).* The Federal Accounting Standards Advisory Board The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to develop generally accepted accounting principles for federal financial reporting entities. (FASAB FASAB Federal Accounting Standards Advisory Board FASAB Financial Accounting Standards Advisory Board ) issues Technical Bulletin 2003-1, Certain Questions and Answers Related to The Homeland Security Act The Homeland Security Act (HSA) of 2002, Pub. L. No. 107-296, 116 Stat. 2135 (Nov. 25, 2002), introduced in the aftermath of the September 11, 2001 attacks, created the Department of Homeland Security in the largest government reorganization in 50 years, since the Department of of 2002. The guidance is based largely on FASB Statement no. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, modified for federal entities. It provides accounting and reporting guidance for government entities whose operations have changed or been transferred with the passage of the act and the creation of the Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States . The bulletin's provisions are effective for reporting periods beginning after September 30, 2002, and it is available from FASAB by phone (202-5127350) or on the Web at www.fasab.gov/ pdf/tb20031.pdf. |
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