Federal Acquisition Regulation; Updated Financial Accounting Standards Board Accounting References, 202-203 [2011-33423]
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202
Federal Register / Vol. 77, No. 1 / Tuesday, January 3, 2012 / Rules and Regulations
9.407–3
Procedures.
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(e) * * *
(3) With regard to information that
may be covered by a disclosure
exemption under the Freedom of
Information Act, the suspending official
shall follow the procedures at 9.105–
2(b)(2)(iv).
PART 12—ACQUISITION OF
COMMERCIAL ITEMS
12.301
[Amended]
6. Amend section 12.301 by removing
paragraph (d)(4).
■
PART 42—CONTRACT
ADMINISTRATION AND AUDIT
SERVICES
7. Amend section 42.1503 by revising
the introductory text of paragraph (f)(1);
and adding paragraph (f)(3) to read as
follows:
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42.1503
Procedures.
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(f) * * *
(1) Agencies shall ensure information
is accurately reported in the FAPIIS
module of PPIRS within 3 calendar days
after a contracting officer—
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(3) With regard to information that
may be covered by a disclosure
exemption under the Freedom of
Information Act, the contracting officer
shall follow the procedures at 9.105–
2(b)(2)(iv).
PART 52—SOLICITATION PROVISIONS
AND CONTRACT CLAUSES
8. Amend section 52.209–9 by
revising the date of the clause and
paragraph (b); and adding paragraphs (c)
and (d) to read as follows:
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52.209–9 Updates of Publicly Available
Information Regarding Responsibility
Matters.
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(End of clause)
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Updates of Publicly Available
Information Regarding Responsibility
Matters (JAN 2012)
TKELLEY on DSK3SPTVN1PROD with RULES2
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(b) As required by section 3010 of the
Supplemental Appropriations Act, 2010
(Pub. L. 111–212), all information posted in
FAPIIS on or after April 15, 2011, except past
performance reviews, will be publicly
available. FAPIIS consists of two segments—
(1) The non-public segment, into which
Government officials and the Contractor post
information, which can only be viewed by—
(i) Government personnel and authorized
users performing business on behalf of the
Government; or
(ii) The Contractor, when viewing data on
itself; and
VerDate Mar<15>2010
17:59 Dec 30, 2011
Jkt 226001
(2) The publicly-available segment, to
which all data in the non-public segment of
FAPIIS is automatically transferred after a
waiting period of 14 calendar days, except
for—
(i) Past performance reviews required by
subpart 42.15;
(ii) Information that was entered prior to
April 15, 2011; or
(iii) Information that is withdrawn during
the 14-calendar-day waiting period by the
Government official who posted it in
accordance with paragraph (c)(1) of this
clause.
(c) The Contractor will receive notification
when the Government posts new information
to the Contractor’s record.
(1) If the Contractor asserts in writing
within 7 calendar days, to the Government
official who posted the information, that
some of the information posted to the nonpublic segment of FAPIIS is covered by a
disclosure exemption under the Freedom of
Information Act, the Government official
who posted the information must within 7
calendar days remove the posting from
FAPIIS and resolve the issue in accordance
with agency Freedom of Information
procedures, prior to reposting the releasable
information. The contractor must cite
52.209–9 and request removal within 7
calendar days of the posting to FAPIIS.
(2) The Contractor will also have an
opportunity to post comments regarding
information that has been posted by the
Government. The comments will be retained
as long as the associated information is
retained, i.e., for a total period of 6 years.
Contractor comments will remain a part of
the record unless the Contractor revises
them.
(3) As required by section 3010 of Pub. L.
111–212, all information posted in FAPIIS on
or after April 15, 2011, except past
performance reviews, will be publicly
available.
(d) Public requests for system information
posted prior to April 15, 2011, will be
handled under Freedom of Information Act
procedures, including, where appropriate,
procedures promulgated under E.O. 12600.
9. Amend section 52.212–5 by
revising the date of the clause; and
redesignating paragraphs (b)(7) through
(b)(50) as (b)(8) through (b)(51),
respectively; and adding new (b)(7) to
read as follows:
■
52.212–5 Contract Terms and Conditions
Required To Implement Statutes or
Executive Orders—Commercial Items.
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Contract Terms and Conditions
Required To Implement Statutes or
Executive Orders—Commercial Items
(JAN 2012)
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(b) * * *
PO 00000
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Fmt 4701
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(7) 52.209–9, Updates of Publicly Available
Information Regarding Responsibility Matters
(JAN 2012) (41 U.S.C. 2313).
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[FR Doc. 2011–33420 Filed 12–30–11; 8:45 am]
BILLING CODE 6820–EP–P
DEPARTMENT OF DEFENSE
GENERAL SERVICES
ADMINISTRATION
NATIONAL AERONAUTICS AND
SPACE ADMINISTRATION
48 CFR Parts 31 and 52
[FAC 2005–55; FAR Case 2010–005; Item
VI; Docket 2010–0005, Sequence 1]
RIN 9000–AM00
Federal Acquisition Regulation;
Updated Financial Accounting
Standards Board Accounting
References
Department of Defense (DoD),
General Services Administration (GSA),
and National Aeronautics and Space
Administration (NASA).
ACTION: Final rule.
AGENCIES:
DoD, GSA, and NASA are
issuing a final rule amending the
Federal Acquisition Regulation (FAR) to
update references to authoritative
accounting standards owing to the
Financial Accounting Standards Board’s
Accounting Standards Codification of
Generally Accepted Accounting
Principles.
SUMMARY:
Effective Date: February 2, 2012.
Mr.
Edward N. Chambers, Procurement
Analyst, at (202) 501–3221, for
clarification of content. For information
pertaining to status or publication
schedules, contact the Regulatory
Secretariat at (202) 501–4755. Please
cite FAC 2005–55, FAR Case 2010–005.
SUPPLEMENTARY INFORMATION:
DATES:
FOR FURTHER INFORMATION CONTACT:
I. Background
DoD, GSA, and NASA published a
proposed rule in the Federal Register at
76 FR 8989 on February 16, 2011, to
update the references based upon the
Financial Accounting Standards Board’s
(FASB) Statement Number 168 which
stated that the FASB Accounting
Standards Codification (ASC) would
become the source of authoritative U.S.
Generally Accepted Accounting
Principles (GAAP) recognized by the
FASB to be applied to nongovernmental
entities. The revisions are intended to
have no effect other than to simply
replace the superseded references with
E:\FR\FM\03JAR2.SGM
03JAR2
Federal Register / Vol. 77, No. 1 / Tuesday, January 3, 2012 / Rules and Regulations
updated references. The Regulatory
Secretariat received one response to the
proposed rule.
II. Discussion and Analysis
The Civilian Agency Acquisition
Council and the Defense Acquisition
Regulations Council reviewed the
public comment in the development of
the final rule. A discussion of the
comment follows:
Executive Compensation Reporting
Comment: The respondent inquired if
the executive compensation reporting
language applied to private companies
that through the normal course of
business have no interest in disclosing
this information to the public/
Government.
Response: This comment is outside
the scope of this case, which was
limited to simply replacing superseded
FAR references with updated references.
FAR 4.1403 delineates which
Government contracts require the
reporting of executive compensation
(FAR clause 52.204–10).
III. Executive Orders 12866 and 13563
Executive Orders (E.O.s) 12866 and
13563 direct agencies to assess all costs
and benefits of available regulatory
alternatives and, if regulation is
necessary, to select regulatory
approaches that maximize net benefits
(including potential economic,
environmental, public health and safety
effects, distributive impacts, and
equity). E.O. 13563 emphasizes the
importance of quantifying both costs
and benefits, of reducing costs, of
harmonizing rules, and of promoting
flexibility. This is not a significant
regulatory action and, therefore, was not
subject to review under section 6(b) of
E.O. 12866, Regulatory Planning and
Review, dated September 30, 1993. This
rule is not a major rule under 5 U.S.C.
804.
TKELLEY on DSK3SPTVN1PROD with RULES2
IV. Regulatory Flexibility Act
The Department of Defense, the
General Services Administration, and
the National Aeronautics and Space
Administration certify that this final
rule will not have a significant
economic impact on a substantial
number of small entities within the
meaning of the Regulatory Flexibility
Act, 5 U.S.C. 601, et seq., because the
rule makes administrative changes only
by merely updating references to
authoritative accounting standards
owing to the Financial Accounting
Standard Board’s Accounting Standards
Codification of Generally Accepted
Accounting Principles.
VerDate Mar<15>2010
17:59 Dec 30, 2011
Jkt 226001
V. Paperwork Reduction Act
The final rule does not contain any
information collection requirements that
require the approval of the Office of
Management and Budget under the
Paperwork Reduction Act (44 U.S.C.
chapter 35).
List of Subjects in 48 CFR Parts 31 and
52
Government procurement.
Dated: December 21, 2011.
Laura Auletta,
Director, Office of Governmentwide
Acquisition Policy, Office of Acquisition
Policy, Office of Governmentwide Policy.
Therefore, DoD, GSA, and NASA
amend 48 CFR parts 31 and 52 as set
forth below:
■ 1. The authority citation for 48 CFR
parts 31 and 52 continues to read as
follows:
Authority: 40 U.S.C. 121(c); 10 U.S.C.
chapter 137; and 42 U.S.C. 2473(c).
PART 31—CONTRACT COST
PRINCIPLES AND PROCEDURES
2. Amend section 31.205–11 by
revising the introductory text of
paragraph (h) to read as follows:
■
31.205–11
Depreciation.
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(h) A ‘‘capital lease,’’ as defined in
Financial Accounting Standards Board’s
Accounting Standards Codification
(FASB ASC) 840, Leases, is subject to
the requirements of this cost principle.
(See 31.205–36 for Operating Leases.)
FASB ASC 840 requires that capital
leases be treated as purchased assets,
i.e., be capitalized, and the capitalized
value of such assets be distributed over
their useful lives as depreciation
charges or over the leased life as
amortization charges, as appropriate,
except that—
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■ 3. Amend section 31.205–36 by
revising paragraph (a) to read as follows:
31.205–36
Rental costs.
(a) This subsection is applicable to the
cost of renting or leasing real or
personal property acquired under
‘‘operating leases’’ as defined in
Financial Accounting Standards Board’s
Accounting Standards Codification
(FASB ASC) 840, Leases. (See 31.205–11
for Capital Leases.)
*
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PART 52—SOLICITATION PROVISIONS
AND CONTRACT CLAUSES
paragraph (a), in the definition ‘‘Total
compensation’’, revising paragraph (2)
to read as follows:
52.204–10 Reporting Executive
Compensation and First-Tier Subcontract
Awards.
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Fmt 4701
Sfmt 9990
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Total compensation * * *
(2) Awards of stock, stock options, and
stock appreciation rights. Use the dollar
amount recognized for financial statement
reporting purposes with respect to the fiscal
year in accordance with the Financial
Accounting Standards Board’s Accounting
Standards Codification (FASB ASC) 718,
Compensation-Stock Compensation.
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5. Amend section 52.212–5 by
revising the date of the clause and
paragraph (b)(4) to read as follows:
■
52.212–5 Contract Terms and Conditions
Required To Implement Statutes or
Executive Orders—Commercial Items.
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Contract Terms and Conditions
Required To Implement Statutes or
Executive Orders—Commercial Items
(FEB 2012)
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(b) * * *
(4) 52.204–10, Reporting Executive
Compensation and First-Tier Subcontract
Awards (Feb 2012) (Pub. L. 109–282) (31
U.S.C. 6101 note).
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6. Amend section 52.213–4 by
revising the date of the clause and
paragraph (a)(2)(i) to read as follows:
■
52.213–4 Terms and Conditions—
Simplified Acquisitions (Other Than
Commercial Items).
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Terms and Conditions—Simplified
Acquisitions (Other Than Commercial
Items) (FEB 2012)
(a) * * *
(2) * * *
(i) 52.204–10, Reporting Executive
Compensation and First-Tier Subcontract
Awards (FEB 2012)
(Pub. L. 109–282) (31 U.S.C. 6101 note).
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[FR Doc. 2011–33423 Filed 12–30–11; 8:45 am]
BILLING CODE 6820–EP–P
4. Amend section 52.204–10 by
revising the date of the clause, and in
Frm 00023
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Reporting Executive Compensation and
First-Tier Subcontract Awards (FEB
2012)
■
PO 00000
203
E:\FR\FM\03JAR2.SGM
03JAR2
]]>Agencies
[Federal Register Volume 77, Number 1 (Tuesday, January 3, 2012)]
[Rules and Regulations]
[Pages 202-203]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-33423]
-----------------------------------------------------------------------
DEPARTMENT OF DEFENSE
GENERAL SERVICES ADMINISTRATION
NATIONAL AERONAUTICS AND SPACE ADMINISTRATION
48 CFR Parts 31 and 52
[FAC 2005-55; FAR Case 2010-005; Item VI; Docket 2010-0005, Sequence 1]
RIN 9000-AM00
Federal Acquisition Regulation; Updated Financial Accounting
Standards Board Accounting References
AGENCIES: Department of Defense (DoD), General Services Administration
(GSA), and National Aeronautics and Space Administration (NASA).
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: DoD, GSA, and NASA are issuing a final rule amending the
Federal Acquisition Regulation (FAR) to update references to
authoritative accounting standards owing to the Financial Accounting
Standards Board's Accounting Standards Codification of Generally
Accepted Accounting Principles.
DATES: Effective Date: February 2, 2012.
FOR FURTHER INFORMATION CONTACT: Mr. Edward N. Chambers, Procurement
Analyst, at (202) 501-3221, for clarification of content. For
information pertaining to status or publication schedules, contact the
Regulatory Secretariat at (202) 501-4755. Please cite FAC 2005-55, FAR
Case 2010-005.
SUPPLEMENTARY INFORMATION:
I. Background
DoD, GSA, and NASA published a proposed rule in the Federal
Register at 76 FR 8989 on February 16, 2011, to update the references
based upon the Financial Accounting Standards Board's (FASB) Statement
Number 168 which stated that the FASB Accounting Standards Codification
(ASC) would become the source of authoritative U.S. Generally Accepted
Accounting Principles (GAAP) recognized by the FASB to be applied to
nongovernmental entities. The revisions are intended to have no effect
other than to simply replace the superseded references with
[[Page 203]]
updated references. The Regulatory Secretariat received one response to
the proposed rule.
II. Discussion and Analysis
The Civilian Agency Acquisition Council and the Defense Acquisition
Regulations Council reviewed the public comment in the development of
the final rule. A discussion of the comment follows:
Executive Compensation Reporting
Comment: The respondent inquired if the executive compensation
reporting language applied to private companies that through the normal
course of business have no interest in disclosing this information to
the public/Government.
Response: This comment is outside the scope of this case, which was
limited to simply replacing superseded FAR references with updated
references. FAR 4.1403 delineates which Government contracts require
the reporting of executive compensation (FAR clause 52.204-10).
III. Executive Orders 12866 and 13563
Executive Orders (E.O.s) 12866 and 13563 direct agencies to assess
all costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits (including potential economic, environmental, public
health and safety effects, distributive impacts, and equity). E.O.
13563 emphasizes the importance of quantifying both costs and benefits,
of reducing costs, of harmonizing rules, and of promoting flexibility.
This is not a significant regulatory action and, therefore, was not
subject to review under section 6(b) of E.O. 12866, Regulatory Planning
and Review, dated September 30, 1993. This rule is not a major rule
under 5 U.S.C. 804.
IV. Regulatory Flexibility Act
The Department of Defense, the General Services Administration, and
the National Aeronautics and Space Administration certify that this
final rule will not have a significant economic impact on a substantial
number of small entities within the meaning of the Regulatory
Flexibility Act, 5 U.S.C. 601, et seq., because the rule makes
administrative changes only by merely updating references to
authoritative accounting standards owing to the Financial Accounting
Standard Board's Accounting Standards Codification of Generally
Accepted Accounting Principles.
V. Paperwork Reduction Act
The final rule does not contain any information collection
requirements that require the approval of the Office of Management and
Budget under the Paperwork Reduction Act (44 U.S.C. chapter 35).
List of Subjects in 48 CFR Parts 31 and 52
Government procurement.
Dated: December 21, 2011.
Laura Auletta,
Director, Office of Governmentwide Acquisition Policy, Office of
Acquisition Policy, Office of Governmentwide Policy.
Therefore, DoD, GSA, and NASA amend 48 CFR parts 31 and 52 as set
forth below:
0
1. The authority citation for 48 CFR parts 31 and 52 continues to read
as follows:
Authority: 40 U.S.C. 121(c); 10 U.S.C. chapter 137; and 42
U.S.C. 2473(c).
PART 31--CONTRACT COST PRINCIPLES AND PROCEDURES
0
2. Amend section 31.205-11 by revising the introductory text of
paragraph (h) to read as follows:
31.205-11 Depreciation.
* * * * *
(h) A ``capital lease,'' as defined in Financial Accounting
Standards Board's Accounting Standards Codification (FASB ASC) 840,
Leases, is subject to the requirements of this cost principle. (See
31.205-36 for Operating Leases.) FASB ASC 840 requires that capital
leases be treated as purchased assets, i.e., be capitalized, and the
capitalized value of such assets be distributed over their useful lives
as depreciation charges or over the leased life as amortization
charges, as appropriate, except that--
* * * * *
0
3. Amend section 31.205-36 by revising paragraph (a) to read as
follows:
31.205-36 Rental costs.
(a) This subsection is applicable to the cost of renting or leasing
real or personal property acquired under ``operating leases'' as
defined in Financial Accounting Standards Board's Accounting Standards
Codification (FASB ASC) 840, Leases. (See 31.205-11 for Capital
Leases.)
* * * * *
PART 52--SOLICITATION PROVISIONS AND CONTRACT CLAUSES
0
4. Amend section 52.204-10 by revising the date of the clause, and in
paragraph (a), in the definition ``Total compensation'', revising
paragraph (2) to read as follows:
52.204-10 Reporting Executive Compensation and First-Tier Subcontract
Awards.
* * * * *
Reporting Executive Compensation and First-Tier Subcontract Awards (FEB
2012)
* * * * *
Total compensation * * *
(2) Awards of stock, stock options, and stock appreciation
rights. Use the dollar amount recognized for financial statement
reporting purposes with respect to the fiscal year in accordance
with the Financial Accounting Standards Board's Accounting Standards
Codification (FASB ASC) 718, Compensation-Stock Compensation.
* * * * *
0
5. Amend section 52.212-5 by revising the date of the clause and
paragraph (b)(4) to read as follows:
52.212-5 Contract Terms and Conditions Required To Implement Statutes
or Executive Orders--Commercial Items.
* * * * *
Contract Terms and Conditions Required To Implement Statutes or
Executive Orders--Commercial Items (FEB 2012)
* * * * *
(b) * * *
(4) 52.204-10, Reporting Executive Compensation and First-Tier
Subcontract Awards (Feb 2012) (Pub. L. 109-282) (31 U.S.C. 6101
note).
* * * * *
0
6. Amend section 52.213-4 by revising the date of the clause and
paragraph (a)(2)(i) to read as follows:
52.213-4 Terms and Conditions--Simplified Acquisitions (Other Than
Commercial Items).
* * * * *
Terms and Conditions--Simplified Acquisitions (Other Than Commercial
Items) (FEB 2012)
(a) * * *
(2) * * *
(i) 52.204-10, Reporting Executive Compensation and First-Tier
Subcontract Awards (FEB 2012)
(Pub. L. 109-282) (31 U.S.C. 6101 note).
* * * * *
[FR Doc. 2011-33423 Filed 12-30-11; 8:45 am]
BILLING CODE 6820-EP-P
