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Credit Reform Accounting

Updated August 10, 2004

This reference material is provided to assist credit agencies in complying with the Credit Reform Act of 1990 (P.L. 101-508).


Overview

The Federal Credit Reform Act of 1990 was enacted to accomplish four objectives:

  • measure more accurately the costs of Federal credit programs;
  • place the cost of credit programs on a budgetary basis equivalent to other Federal spending;
  • encourage the delivery of benefits in the form most appropriate to the needs of beneficiaries; and
  • improve the allocation of resources among credit programs and between credit and other spending programs.

Standard USSGL Transactions

  • Credit Reform Case Studies
    The case studies illustrate accounting for direct and guaranteed loans at the net present value of their cash flows for transactions occurring after 1991. A case study is also available for loans prior to 1992 using the cash basis of accounting.

  • Issue Papers Exit FMS Web Site
    The issue papers provide a review of individual credit issues that require modification. Issue papers are not authoritative guidance. They are discussed and endorsed by the AAPC Credit Reform Task Force.

Working Groups


   Last Updated:  March 14, 2014