Invitation for Public Comments Concerning a Staff Discussion Paper on Conformance of the Cost Accounting Standards to Generally Accepted Accounting Principles, 9143 [2019-04513]
Download as PDF
<![CDATA[
Federal Register / Vol. 84, No. 49 / Wednesday, March 13, 2019 / Notices
Title of Collection: National Safety
Stand-Down to Prevent Falls in
Construction.
OMB ICR Reference Number: 201803–
1218–001.
Affected Public: Private Sector—
businesses or other for-profits.
Total Estimated Number of
Respondents: 4,500.
Total Estimated Number of
Responses: 4,500.
Total Estimated Annual Time Burden:
750 hours.
Total Estimated Annual Other Costs
Burden: $0.
Authority: 44 U.S.C. 3507(a)(1)(D).
Dated: March 7, 2019.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2019–04574 Filed 3–12–19; 8:45 am]
BILLING CODE 4510–26–P
OFFICE OF MANAGEMENT AND
BUDGET
Invitation for Public Comments
Concerning a Staff Discussion Paper
on Conformance of the Cost
Accounting Standards to Generally
Accepted Accounting Principles
Cost Accounting Standards
Board, Office Federal Procurement
Policy, Office of Management and
Budget.
ACTION: Notice.
AGENCY:
The Office of Federal
Procurement Policy, Cost Accounting
Standards Board, invites public
comments concerning a Staff Discussion
Paper (SDP) on conformance of the Cost
Accounting Standards (CAS) to
Generally Accepted Accounting
Principles (GAAP).
DATES: Comments must be in writing
and must be received by May 13, 2019.
ADDRESSES: Due to delays in OMB’s
receipt and processing of mail,
respondents are strongly encouraged to
submit comments electronically to
ensure timely receipt. Electronic
comments should be submitted to
CASB@omb.eop.gov. Be sure to include
your name, title, organization, and
reference case CASB 2019–01. If you
must submit by regular mail, please do
so at Office of Federal Procurement
Policy, 725 17th Street NW,
Washington, DC 20503, ATTN:
Raymond Wong.
Please note that all comments
received are subject to the Freedom of
Information Act, considered public, and
will be posted in their entirety,
including any personal and/or business
confidential information provided. Do
amozie on DSK9F9SC42PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
19:26 Mar 12, 2019
Jkt 247001
not include any information you would
not like to be made publically available.
FOR FURTHER INFORMATION CONTACT:
Raymond Wong, Cost Accounting
Standards Board Director (Telephone
202–395–6805).
Availability: The full text of the SDP
is available on the Office of
Management and Budget homepage at:
https://www.whitehouse.gov/wpcontent/uploads/2019/03/2019-01-SDPsupp1.pdf.
SUPPLEMENTARY INFORMATION:
A. Regulatory Process
Rules, regulations and standards
issued by the Cost Accounting
Standards Board (Board) are codified at
48 CFR Chapter 99. Pursuant to 41
U.S.C. 1502(c), the Board, prior to the
establishment of any new or revised
Cost Accounting Standard (CAS or
Standard), is required to complete a
prescribed rulemaking process. The
process generally consists of the
following four steps:
1. Consult with interested persons
concerning the advantages,
disadvantages and improvements
anticipated in the pricing and
administration of Government contracts
as a result of the adoption of a proposed
Standard.
2. Promulgate an Advance Notice of
Proposed Rulemaking.
3. Promulgate a Notice of Proposed
Rulemaking.
4. Promulgate a Final Rule.
This notice is the first step of the fourstep process.
B. Background and Summary
The Office of Federal Procurement
Policy (OFPP), Cost Accounting
Standards Board, is releasing an SDP on
the conformance of CAS to GAAP. The
SDP has been developed as part of the
rulemaking process set forth at 41 U.S.C.
1502(c), which requires the Board to
consult with interested persons
concerning the advantages,
disadvantages, and improvements
anticipated in the pricing and
administration of Government contracts
as a result of the adoption of a proposed
Standard prior to the promulgation of
any new or revised CAS. The full text
of the SDP is available on the Office of
Management and Budget homepage at:
https://www.whitehouse.gov/wpcontent/uploads/2019/03/2019-01-SDPsupp1.pdf.
The National Defense Authorization
Act of FY2017 (Pub. L. 114–328, 130
Stat. 2273) amended 41 U.S.C.
1501(c)(2) to require the Board to review
CAS and conform them, where
practicable, to GAAP. In addition, the
PO 00000
Frm 00070
Fmt 4703
Sfmt 4703
9143
amended 41 U.S.C. 1502(e) requires the
Board to submit an annual report to the
Congressional defense committees, the
Committee on Oversight and
Government Reform of the House of
Representatives, and the Committee on
Homeland Security and Governmental
Affairs of the Senate describing the
action taken during the prior year to
conform CAS with GAAP and to
minimize the burden on contractors
while protecting the interests of the
Federal Government.
The SDP solicits the public’s views
with respect to the Board’s statutory
requirement to conform CAS to GAAP.
The SDP reflects research accomplished
to date by the Board in the respective
subject area, and is issued by the Board
in accordance with the requirements of
41 U.S.C. 1502(c). Respondents are
encouraged to provide comments to the
questions raised by the Board, although
the Board also welcomes identification
and comment on any other important
issues related to conformance of CAS to
GAAP. The Board continues to be
especially appreciative of comments
and suggestions that attempt to consider
the concerns of all parties to the
contracting process.
C. Public Comments
Interested persons are invited to
participate by providing input with
respect to conformance of CAS to
GAAP. All comments must be in writing
and submitted as instructed in the
ADDRESSES section.
Please note that all comments
received are subject to the Freedom of
Information Act, considered public, and
will be posted in their entirety,
including any personal and/or business
confidential information provided. Do
not include any information you would
not like to be made publically available.
Lesley A. Field,
Deputy Administrator.
[FR Doc. 2019–04513 Filed 3–12–19; 8:45 am]
BILLING CODE 3110–01–P
NATIONAL AERONAUTICS AND
SPACE ADMINISTRATION
[Notice: 19–006]
Notice of Information Collection
National Aeronautics and
Space Administration (NASA).
ACTION: Notice of information collection.
AGENCY:
The Office of Chief Health
and Medical Officer (OCHMO), within
the National Aeronautics and Space
Administration (NASA) as part of its
continuing effort to reduce public
SUMMARY:
E:\FR\FM\13MRN1.SGM
13MRN1
]]>Agencies
[Federal Register Volume 84, Number 49 (Wednesday, March 13, 2019)]
[Notices]
[Page 9143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-04513]
=======================================================================
-----------------------------------------------------------------------
OFFICE OF MANAGEMENT AND BUDGET
Invitation for Public Comments Concerning a Staff Discussion
Paper on Conformance of the Cost Accounting Standards to Generally
Accepted Accounting Principles
AGENCY: Cost Accounting Standards Board, Office Federal Procurement
Policy, Office of Management and Budget.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Office of Federal Procurement Policy, Cost Accounting
Standards Board, invites public comments concerning a Staff Discussion
Paper (SDP) on conformance of the Cost Accounting Standards (CAS) to
Generally Accepted Accounting Principles (GAAP).
DATES: Comments must be in writing and must be received by May 13,
2019.
ADDRESSES: Due to delays in OMB's receipt and processing of mail,
respondents are strongly encouraged to submit comments electronically
to ensure timely receipt. Electronic comments should be submitted to
CASB@omb.eop.gov. Be sure to include your name, title, organization,
and reference case CASB 2019-01. If you must submit by regular mail,
please do so at Office of Federal Procurement Policy, 725 17th Street
NW, Washington, DC 20503, ATTN: Raymond Wong.
Please note that all comments received are subject to the Freedom
of Information Act, considered public, and will be posted in their
entirety, including any personal and/or business confidential
information provided. Do not include any information you would not like
to be made publically available.
FOR FURTHER INFORMATION CONTACT: Raymond Wong, Cost Accounting
Standards Board Director (Telephone 202-395-6805).
Availability: The full text of the SDP is available on the Office
of Management and Budget homepage at: https://www.whitehouse.gov/wp-content/uploads/2019/03/2019-01-SDP-supp1.pdf.
SUPPLEMENTARY INFORMATION:
A. Regulatory Process
Rules, regulations and standards issued by the Cost Accounting
Standards Board (Board) are codified at 48 CFR Chapter 99. Pursuant to
41 U.S.C. 1502(c), the Board, prior to the establishment of any new or
revised Cost Accounting Standard (CAS or Standard), is required to
complete a prescribed rulemaking process. The process generally
consists of the following four steps:
1. Consult with interested persons concerning the advantages,
disadvantages and improvements anticipated in the pricing and
administration of Government contracts as a result of the adoption of a
proposed Standard.
2. Promulgate an Advance Notice of Proposed Rulemaking.
3. Promulgate a Notice of Proposed Rulemaking.
4. Promulgate a Final Rule.
This notice is the first step of the four-step process.
B. Background and Summary
The Office of Federal Procurement Policy (OFPP), Cost Accounting
Standards Board, is releasing an SDP on the conformance of CAS to GAAP.
The SDP has been developed as part of the rulemaking process set forth
at 41 U.S.C. 1502(c), which requires the Board to consult with
interested persons concerning the advantages, disadvantages, and
improvements anticipated in the pricing and administration of
Government contracts as a result of the adoption of a proposed Standard
prior to the promulgation of any new or revised CAS. The full text of
the SDP is available on the Office of Management and Budget homepage
at: https://www.whitehouse.gov/wp-content/uploads/2019/03/2019-01-SDP-supp1.pdf.
The National Defense Authorization Act of FY2017 (Pub. L. 114-328,
130 Stat. 2273) amended 41 U.S.C. 1501(c)(2) to require the Board to
review CAS and conform them, where practicable, to GAAP. In addition,
the amended 41 U.S.C. 1502(e) requires the Board to submit an annual
report to the Congressional defense committees, the Committee on
Oversight and Government Reform of the House of Representatives, and
the Committee on Homeland Security and Governmental Affairs of the
Senate describing the action taken during the prior year to conform CAS
with GAAP and to minimize the burden on contractors while protecting
the interests of the Federal Government.
The SDP solicits the public's views with respect to the Board's
statutory requirement to conform CAS to GAAP. The SDP reflects research
accomplished to date by the Board in the respective subject area, and
is issued by the Board in accordance with the requirements of 41 U.S.C.
1502(c). Respondents are encouraged to provide comments to the
questions raised by the Board, although the Board also welcomes
identification and comment on any other important issues related to
conformance of CAS to GAAP. The Board continues to be especially
appreciative of comments and suggestions that attempt to consider the
concerns of all parties to the contracting process.
C. Public Comments
Interested persons are invited to participate by providing input
with respect to conformance of CAS to GAAP. All comments must be in
writing and submitted as instructed in the ADDRESSES section.
Please note that all comments received are subject to the Freedom
of Information Act, considered public, and will be posted in their
entirety, including any personal and/or business confidential
information provided. Do not include any information you would not like
to be made publically available.
Lesley A. Field,
Deputy Administrator.
[FR Doc. 2019-04513 Filed 3-12-19; 8:45 am]
BILLING CODE 3110-01-P
