Which objective does FASAB Concept 1 NOT include?

The objective of maximizing asset sales is not included in FASAB Concept 1. FASAB (Federal Accounting Standards Advisory Board) Concept 1 primarily focuses on establishing fundamental concepts for federal financial reporting, which emphasizes the importance of accountability, budgetary integrity, efficiency in operations, and long-term fiscal sustainability.

Budgetary integrity is crucial as it reflects how well the government's budget reflects its financial management and transparency. Efficiency in operations promotes the prudent use of resources, ensuring that operations are conducted in a manner that minimizes waste and maximizes effectiveness. Long-term fiscal sustainability addresses the need for the government to maintain its financial health over time, ensuring it can meet future obligations.

Unlike the other objectives, maximizing asset sales focuses more narrowly on a financial transaction aspect rather than encompassing broader principles of accountability and sustainability that are foundational to FASAB's conceptual framework. Therefore, this objective does not align with the guiding principles outlined in FASAB Concept 1.