FASAB issues MD&A proposal.

Position:Federal Accounting Standards Advisory Board, management's discussion and analysis - Brief Article
 
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The Federal Accounting Standards Advisory Board (FASAB) published an exposure draft on the management's discussion and analysis (MD&A) supplement to federal financial reports required under the Chief Financial Officers Act of 1990. The ED, Management's Discussion and Analysis, provides general concepts on what should be included in the MD&A.

1997 marks the first time that all major federal agencies are required under the CFO Act to prepare financial statements and an MD&A supplement. These financial statements will be consolidated by the Treasury Department for the first audit of a governmentwide financial statement.

MD&As are expected to help users of federal financial statements, including auditors, preparers...

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