> Blue Book
This is the term commonly used to describe the Government Finance Officers Association publication Governmental Accounting, Auditing and Financial Reporting. Initially, the blue book was the authoritative source for GAAP for state and local governments.
> Base Adjustment
Adjustments made to the initial base level budget to reflect total base level funding available to the agency. The list of acceptable base level technical and policy adjustments are included in the biennial budget instructions. Adjustments are generally made on a technical or policy basis. Examples of technical adjustments are one-time appropriations and program sunsets. Examples of policy adjustments are salary increases and space rental changes.
CPA Profession Must Continue To Work Cooperatively For Investors Solutions
Investors Deserve Solutions,AICPA Chair Affirms
Opens SEC/PCAOB Conference WASHINGTON, D.C. (December 5, 2005) – The regulators, standard setters and CPA profession must continue to work cooperatively if the best interests of investors are to be served, the new Chair of the American Institute of Certified Public Accountants said this morning to an audience of 1,500 auditors, corporate controllers and chief financial officers. Leslie Murphy, who assumed the Chair’s position in October, delivered the opening remarks at the Institute’s 33rd annual National Conference on Current SEC and PCAOB Developments, which is taking place at the Marriott Wardman Park, 2660 Woodley Road, NW. “Reliable and transparent financial reporting is fundamental to the well-being of our capital markets,” Murphy said. “The regulators and standard setters with whom we have collaborated to bring you this conference play a vital role in setting the bar for quality business reporting.
“Now, more than ever, CPAs and the regulatory community must work together. The richest solutions to issues are those that we will craft together.” Murphy then illustrated how the CPA profession and regulatory bodies are collaborating to improve the flow and presentation of financial information to investors. She cited Extensible Business Reporting Language (XBRL), a specification for electronic transfer of financial information. XBRL originated with the AICPA, and the SEC is actively encouraging the use of XBRL through a voluntary filing program.
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