FASAB Issues Technical Bulletin on Government Land Accounting

The Federal Accounting Standards Advisory Board (FASAB) staff has issued Technical Bulletin (TB) 2025-1, titled "Technical Clarifications: SFFAS 59, Accounting and Reporting Of Government Land." This bulletin provides technical clarifications related to the accounting and reporting of government land assets, as outlined in SFFAS 59. It is intended to offer guidance to federal agencies on specific accounting treatments.

This notice serves as an informational update for government agencies and accounting professionals involved in federal financial reporting. While this bulletin is not a new rule or regulation, it clarifies existing standards. Agencies should refer to the bulletin for specific guidance on accounting for government land. No immediate compliance actions are mandated beyond adhering to the clarified standards. The bulletin is available on the FASAB website.