SUBJECT: Accounting Principles and Standards
CANCELLATION DATE: August 1, 2013
REASON FOR CANCELLATION: Treasury Directive 32-01, dated December 23, 1992, is cancelled. Federal Agencies must comply with all applicable accounting standards, laws and regulations issued by the Office of Management and Budget (OMB), the Federal Accounting Standards Advisory Board (FASAB), and other federal policy setting organizations; therefore, since the Treasury Bureaus are required to follow the accounting standards, laws and regulations issued by OMB and FASAB , TD 32-01 is obsolete.