Long Island Accounting Firm, Diapoules & Feinstein CPAs P.C., Respond to the News of U.S. Board Setting New Accounting Rules for State Government

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Following an article about new accounting rules on mergers for state government, Diapoules & Feinstein CPAs P.C. respond with their comments.

On January 16, 2013, Long Island accounting firm Diapoules & Feinstein CPAs P.C. respond to a Reuters article, regarding the U.S. Board setting new accounting rules on mergers for state government.

According to the [Reuters article, “The U.S. board that sets accounting standards for state and local governments on Tuesday approved new protocols on reporting mergers and transfers of operations that are specifically tailored to the public sector.”

The article states that the new rules put forth will improve accounting for mergers for state and local governments. Chairman of the Governmental Accounting Standards Robert Attmore stated that the new rules will be made possible due to, “guidance specific to the situations and circumstances encountered within the governmental environment."

The article informed that the full text of the new rule will be available in February via internet on the board’s website. “They are intended to help define whether a government combining with another is a merger, acquisition or transfer of operations,” mentioned the article.

Long Island accounting firm, Diapoules & Feinstein CPAs P.C., respond to the article with their thoughts on the new rules. “ At long last the Government Accounting Standards Board has issued guidance on the important matter of how to deal with the merger and transfer of operations in the public sector.”

Diapoules and Feinstein CPAs P.C have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.

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Jim Diapoules
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