Statement of Federal Financial Accounting Standards (SFFAS)

The Statement of Federal Financial Accounting Standards (SFFAS) is a set of guidelines established to improve the financial reporting of U.S. federal government entities. These standards aim to ensure transparency, consistency, and accountability in how financial information is presented and managed. By providing a framework for reporting financial data, SFFAS helps government agencies convey a clear picture of their financial health, enabling better decision-making and oversight by stakeholders, including taxpayers, policymakers, and auditors. This ultimately supports effective governance and public trust in federal financial operations.