Notice2024-03891
Cost Accounting Standards Board Meeting Agenda
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 27, 2024
Issuing agencies
Management and Budget OfficeFederal Procurement Policy Office
Abstract
The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board (CAS Board) is publishing this notice to advise the public of its recent and upcoming meetings. The meetings are closed to the public.
Full Text
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<title>Federal Register, Volume 89 Issue 39 (Tuesday, February 27, 2024)</title>
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[Federal Register Volume 89, Number 39 (Tuesday, February 27, 2024)]
[Notices]
[Page 14523]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-03891]
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OFFICE OF MANAGEMENT AND BUDGET
Office of Federal Procurement Policy
Cost Accounting Standards Board Meeting Agenda
AGENCY: Cost Accounting Standards Board, Office Federal Procurement
Policy, Office of Management and Budget.
ACTION: Notice of agenda for Closed Cost Accounting Standards Board
meetings.
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SUMMARY: The Office of Federal Procurement Policy (OFPP), Cost
Accounting Standards Board (CAS Board) is publishing this notice to
advise the public of its recent and upcoming meetings. The meetings are
closed to the public.
ADDRESSES: New Executive Office Building, 725 17th Street NW,
Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: John L. McClung, Manager, Cost
Accounting Standards Board (telephone: 202-881-9758; email:
<a href="/cdn-cgi/l/email-protection#adc7c2c5c383c183c0cecec1d8c3ca9fedc2c0cf83c8c2dd83cac2db"><span class="__cf_email__" data-cfemail="2d47424543034103404e4e4158434a1f6d42404f0348425d034a425b">[email protected]</span></a>).
SUPPLEMENTARY INFORMATION: The CAS Board is issuing this notice to
inform the public of the discussion topics for recent meetings held on
January 17, 2024 and February 20, 2024, and for a meeting scheduled
March 11, 2024. The list of agenda items for these meetings is set
forth below. While CAS Board meetings are closed to the public, the
Board welcomes comments and inquiries, which may be directed to the
manager using the contact information provided above. The Board is
interested in specific comments on the prioritization of cases on the
open docket and on any additional issues that the Board should
consider.
Agenda for CAS Board Meetings During the Second Quarter, Fiscal Year
2024
1. Conformance of CAS to Generally Accepted Accounting Principles
(GAAP). 41 U.S.C. 1501(c)(2) requires the CAS Board to review and
conform CAS, where practicable, to GAAP. In furtherance of section
1501(c)(2), the CAS Board will consider the following: (1) issuance of
a Notice of Proposed Rule Making addressing the impact of GAAP changes
to operating revenue and lease accounting based on the public comments
received in response to the Advanced Notice of Proposed Rule Making
(ANPRM) (85 FR 70572, November 5, 2020); (2) issuance of an ANPRM
addressing conformance of CAS 408, Accounting for costs of compensated
personal absence, and CAS 409, Cost accounting standard depreciation of
tangible capital assets, to GAAP based on public comments received in
response to the Staff Discussion Paper (84 FR 9143, March 2019); (3)
whether and what type of accounting change conformance of CAS to GAAP
might trigger and the associated implications.
2. Application of CAS to Indefinite Delivery Vehicle (IDVs)
contracts. The Board will discuss a draft notice seeking public comment
on application of CAS monetary thresholds to IDV contracts.
3. Pension Harmonization for Extraordinary Events. The Board will
discuss an ANPRM to modify CAS 412 and CAS 413. The ANPRM would be a
follow-on to a rulemaking issued in 2011 required by the Pension
Protection Act (PPA) of 2006. The purpose of the ANPRM is to reconcile
the application of the PPA and the CAS adjustment of pension costs for
extraordinary events (i.e., curtailment of pension plan benefits,
termination of plans, and the accounting of pension plan assets or
liabilities following the sale or closing of a corporate segment).
4. Waivers. Section 820 of the National Defense Authorization Act
for FY 2017, amended section 1502(b)(3)(A) of title 41 of the United
States Code to raise the threshold under which CAS may be waived if the
business unit of the contractor or subcontractor that will perform the
work is primarily engaged in the sale of commercial items and would not
otherwise be subject to CAS. Section 820 raised the threshold from $15
million to $100 million. The Board will discuss a rulemaking to amend
the CAS to reflect this statutory threshold change.
5. Public input. The Board will reserve time to discuss suggestions
received from the public in response to this notice.
The notice is published pursuant to 41 U.S.C. 1501(d), which
requires the CAS Board to publish agendas of its meetings in the
Federal Register.
Christine J. Harada,
Senior Advisor, Office of Federal Procurement Policy, and Chair, Cost
Accounting Standards Board, Performing, by Delegation, the Duties of
the Administrator for Federal Procurement Policy.
[FR Doc. 2024-03891 Filed 2-26-24; 8:45 am]
BILLING CODE 3110-01-P
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