Federal Accounting Practices Review Commission Act of 1986

[AI summary unavailable — showing source text] Federal Accounting Practices Review Commission Act of 1986 - Title I: Title, Statement of Findings, Purpose and Limitations - Declares the reasons for, and purposes of, this Act. Title II: Establishment, Duties, and Membership - Establishes the Federal Accounting Practices Review Commission to: (1) examine and describe the financial management practices of the Federal Government; (2) formulate a financial accounting and management system for Federal agencies; (3) prepare a plan for implementation of such system; and (4) recommend an ongoing method for determining and updating generally accepted accounting principles for the Government. Title III: Administration - Sets forth the administrative staffing, procedures, and powers of the Commission. Requires the Commission to submit a final report to the President and the Congress not later than 18 months after the date of completion of appointments of members to the Commission. Terminates the Commission 30 days after submission of such report. Authorizes appropriations.…