Notice of Change/Withdrawal

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Board of Accountancy
RULE NO: RULE TITLE
61H1-20.007: Generally Accepted Accounting Principles
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 35 No. 33, August 21, 2009 issue of the Florida Administrative Weekly.

The change is in response to written comments submitted by the staff of the Joint Administrative Procedures. The changes are as follows:

1. Subsection (2) shall now read as follows:

(2) Governmental generally accepted accounting principles in the United States of America shall be deemed and construed to mean the principles and standards as promulgated by the Governmental Accounting Standards Board (GASB) Summary of Statement No. 55, “The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments” (Issued 03/09), hereby adopted and incorporated by reference and available from GASB at 401 Merritt 7, P. O. Box 5116, Norwalk, CT 06850-5116, telephone: (203)847-0700 or at its website at http://www.gasb.org/, for state and local governments or the principles and standards as promulgated by the Federal Accounting Standards Advisory Board (FASAB) (Issued 6/30/08), hereby adopted and incorporated by reference and available from FASAB, 750 First Street, Suite 1001, Washington, D.C. 20002, telephone (202)512-7350 or at its website at http://www.fasab.gov/index.html for federal governmental entities. A certified public accountant shall not permit his/her name to be associated with financial statements of units of government unless he/she has complied with these standards and departure from such standards must be justified by those who do not follow them.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Veloria Kelly, Division Director, Board of Accountancy, 240 N.W. 76th Dr., Suite A, Gainesville, Florida 32607