Notice on Principles and Other Matters To Guide Conformance of the Cost Accounting Standards to Generally Accepted Accounting Principles, 15817-15818 [2020-05737]

Download as PDF Federal Register / Vol. 85, No. 54 / Thursday, March 19, 2020 / Notices AARC filed claims for all Covered Subfunds. The following table summarizes the claims: Subfunds. The following table summarizes the claims: Year Subfund AARC Curry Powell Kelly 2007 ..................................................................................... FRA ................ CO ................. FRA ................ CO ................. FRA ................ CO ................. FRA ................ CO ................. FRA ................ CO ................. ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ........................ ........................ ........................ ✓ ........................ ........................ ........................ ✓ ........................ ........................ ........................ ✓ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 2008 ..................................................................................... 2009 ..................................................................................... 2010 ..................................................................................... 2011 ..................................................................................... jbell on DSKJLSW7X2PROD with NOTICES 15817 Because no participant other than AARC filed a claim to the 2007 Featured Recording Artist Subfund, the Judges determined that the royalties in that fund were not in controversy and were available for distribution to AARC. 84 FR 27362 (Jun. 12, 2019). Consequently, the 2007 Featured Recording Artist Subfund is no longer a part of this proceeding. On April 24, 2019, AARC filed a Notice of Settlement on its own behalf and on behalf of Mr. Kelly. The Notice of Settlement stated that AARC and Mr. Kelly ‘‘have reached a settlement for the relevant royalty years, 2008–2011, the years for which Kelly filed claims’’ and that ‘‘AARC will represent Kelly as an AARC participant (member) in this consolidated proceeding . . . .’’ Notice of Settlement at 1. Mr. Kelly is, therefore, no longer a separate participant in this proceeding. On January 15, 2020, the Judges granted AARC’s Motion to Dismiss Eugene Curry from the 2007–2011 DART Sound Recordings Fund Copyright Owners Subfund Distribution Proceeding. See Order Granting AARC Motion to Dismiss Curry (Jan. 15, 2020). On January 17, 2020, the Judges granted AARC’s Motion to Dismiss CGN’s Claim to Any Portion of the 2007–2011 DART Sound Recordings Fund Copyright Owners Subfund. See Order Granting AARC Motion to Dismiss David Powell and Circle God Network (Jan. 17, 2020).4 Section 801(b)(3)(A) of the Copyright Act states that the Judges may authorize distribution of royalty fees collected pursuant to Section 1005 of the Copyright Act if they find that the distribution is not subject to controversy. 17 U.S.C. 801(b)(3)(A). In the current proceeding, AARC is the 4 At various points in this proceeding Mr. David Powell has filed documents as ‘‘David Powell, Pro Se’’ and ‘‘circle god network inc d/b/a/david powell.’’ Both appear to refer to the same party, and the Judges have dismissed that party. VerDate Sep<11>2014 18:04 Mar 18, 2020 Jkt 250001 only remaining party with claims to DART royalties in the 2009, 2010, and 2011 Featured Recording Artists Subfunds and the 2007, 2008, 2009, 2010, and 2011 Copyright Owners Subfunds. Therefore, the DART royalties in the enumerated Subfunds are not in controversy. The Judges therefore order that the remaining royalties in the 2009, 2010, and 2011 Featured Recording Artists Subfunds of the Sound Recording Funds and the 2007, 2008, 2009, 2010, and 2011 Copyright Owners Subfunds of the Sound Recording Funds be distributed to AARC. The Judges will forward this determination to the Register of Copyrights and the Librarian of Congress for review and approval. The Librarian shall publish this Determination within 60 days of the date of this order. This Determination will become final upon publication in the Federal Register. So Ordered. Dated: January 22, 2020. Jesse M. Feder, Chief United States Copyright Royalty Judge. David R. Strickler, United States Copyright Royalty Judge. Steve Ruwe, United States Copyright Royalty Judge. The Register of Copyrights closed her review of this Determination on March 6, 2020, with no finding of legal error. Dated: March 9, 2020. Jesse M. Feder, Chief United States Copyright Royalty Judge. Carla D. Hayden, Librarian of Congress. [FR Doc. 2020–05686 Filed 3–18–20; 8:45 am] BILLING CODE 1410–72–P PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 OFFICE OF MANAGEMENT AND BUDGET Office of Federal Procurement Policy Notice on Principles and Other Matters To Guide 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, is publishing this notice to announce the availability of a notice discussing the Board’s responses to public comments on its principles, roadmap, and template to address the conformance of the Cost Accounting Standards (CAS) to Generally Accepted Accounting Principles (GAAP). The comments were received in response to a Staff Discussion Paper (SDP) published on March 13, 2019. FOR FURTHER INFORMATION CONTACT: Raymond Wong, Cost Accounting Standards Board Director (Telephone 202–395–6805). Availability: The full text of the notice is available on the Office of Management and Budget homepage at: https://www.whitehouse.gov/wpcontent/uploads/2020/03/2020-03-suppcas-gaap-gp.pdf. SUPPLEMENTARY INFORMATION: The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board (CAS Board or Board), is releasing a notice to discuss responses to public comments on the guiding principles, roadmap, and template developed by the CAS Board to address how it will approach the requirement in section 820 of Public Law 114–328 to conform CAS to Generally Accepted Accounting Principles (GAAP) to the maximum extent practicable. The March 2019 SDP SUMMARY: E:\FR\FM\19MRN1.SGM 19MRN1 15818 Federal Register / Vol. 85, No. 54 / Thursday, March 19, 2020 / Notices solicited views with respect to the Board’s statutory requirement to review CAS and conform them, where practicable, to GAAP. Respondents were invited to comment on the following six matters: (1) The guiding principles proposed for evaluating the benefits and drawbacks of conforming CAS to GAAP; (2) a roadmap for prioritizing action and explanation of where action may not be beneficial; (3) a template for crosswalking CAS coverage to corresponding GAAP coverage; (4) whether revision to the CAS contract clause found at 9903.201–4, Contract clauses, may be necessary if requirements in the standards are eliminated; (5) the initial analysis of CAS 408, Accounting for Costs of Compensated Personal Absence, and 409, Cost Accounting Standard Depreciation of Tangible Capital Assets, including the Board’s preliminary observations and specific questions for public feedback; and (6) where CAS may need to be modified to conform to changes to GAAP that occurred after a related CAS was promulgated, with an initial focus on lease accounting and operating revenue recognition. The notice being released today relates to respondents’ comments on the first four matters enumerated above. The Board plans to address the last two items with separate advanced notices of proposed rulemaking. Michael E. Wooten, Administrator for Federal Procurement Policy, and Chairman, Cost Accounting Standards Board. [FR Doc. 2020–05737 Filed 3–18–20; 8:45 am] BILLING CODE 3110–01–P OFFICE OF MANAGEMENT AND BUDGET Office of Federal Procurement Policy Cost Accounting Standards Board Meeting Agenda Cost Accounting Standards Board, Office Federal Procurement Policy, Office of Management and Budget. AGENCY: Notice of agenda for closed Cost Accounting Standards Board meetings. ACTION: The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board (CAS Board) is publishing this notice to advise the public of its winter meetings. The notice is published pursuant to section 820(a) of the National Defense Authorization Act (NDAA) for Fiscal Year (FY) 2017, which requires the CAS Board to publish agendas of its meetings jbell on DSKJLSW7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:05 Mar 18, 2020 Jkt 250001 in the Federal Register. The meetings are closed to the public. DATES: March 19, 2020. ADDRESSES: New Executive Office Building, 725 17th Street NW, Washington, DC 20503 FOR FURTHER INFORMATION CONTACT: Raymond Wong, Staff Director, Cost Accounting Standards Board (telephone: 202–395–6805; email: rwong@ omb.eop.gov). SUPPLEMENTARY INFORMATION: The CAS Board is issuing this notice for public awareness of a meeting held on February 20, 2020 and a meeting upcoming on March 19, 2020. 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 staff director using the contact information provided above. Agenda for CAS Board Meetings on February 20, 2020 and March 19, 2020 1. Conformance of CAS to Generally Accepted Accounting Principles (GAAP). Section 820 requires the CAS Board to review and conform CAS, where practicable, to GAAP. In furtherance of section 820, the CAS Board will discuss the following tentatively planned actions, taking into account comments received in response to the staff discussion paper (SDP) it published on March 13, 2019 (84 FR 9143): (1) An advanced notice of proposed rulemaking (ANPRM) on conformance of CAS 408, Accounting for Costs of Compensated Personal Absence, and CAS 409, Cost Accounting Standard Depreciation of Tangible Capital Assets, to GAAP. More generally, the Board will discuss whether and when conformance of CAS to GAAP might be considered a cost accounting practice change. 2. Application of CAS to indefinite delivery vehicles (IDVs) and hybrid contracts. The Board will revisit recommendations pertaining to the treatment of IDVs and hybrid contracts made by the Advisory Panel on Streamlining Acquisition Regulations established by section 809 of the FY 2016 National Defense Authorization Act (the Panel). In its June 2018 report, the Panel recommended that the Board amend its regulations to state that the CAS applicability determination be made separately for each order, rather than at the time the IDV contract is first awarded. The Panel suggested that this clarification can help to avoid confusion caused by inclusion of the CAS clause ‘‘based on the prospect (however unlikely) of obtaining certified cost or PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 pricing data at order placement.’’ For hybrid contracts, the Panel recommended that the CAS exemption be applied to any portion of a contract or subcontract where CAS would not apply if that portion were awarded as a separate contract or subcontract. 3. Waivers. Section 820 of the FY 2017 NDAA 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. 4. CAS Board Annual Report for Fiscal Year 2019. Section 820 amended 41 U.S.C. 1501(e) to require the Board to annually submit a report to Congress on the actions taken by the 5. Board during the prior year. The Board will discuss its first annual report to Congress. Michael E. Wooten, Administrator for Federal Procurement Policy, and Chair, Cost Accounting Standards Board. [FR Doc. 2020–05687 Filed 3–18–20; 8:45 am] BILLING CODE 3110–01–P NATIONAL SCIENCE FOUNDATION Notice of Meeting for Advisory Committee for Engineering Request change in published advisory committee meeting dates and attendance type; corrected. ACTION: The National Science Foundation (NSF) published a document in the Federal Register of March 12, 2020, concerning a 2-day, inperson advisory committee meeting for the Advisory Committee for Engineering. The advisory committee meeting will be reduced to a 1-day virtual session taking place on April 7, 2020. SUMMARY: Correction In the Federal Register published March 12, 2020, in FR Doc. 2020–05032 (Filed 3–11–20), on page 14509–14510, third column, Date and Time Section, please change the date to April 7, 2020; 10:30 a.m.–4:30 p.m. (VIRTUAL). For Further information, please contact Crystal Robinson, crrobins@ nsf.gov or 703–292–8687. E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

[Federal Register Volume 85, Number 54 (Thursday, March 19, 2020)]
[Notices]
[Pages 15817-15818]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05737]


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OFFICE OF MANAGEMENT AND BUDGET

Office of Federal Procurement Policy


Notice on Principles and Other Matters To Guide 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, is publishing this notice to announce the availability 
of a notice discussing the Board's responses to public comments on its 
principles, roadmap, and template to address the conformance of the 
Cost Accounting Standards (CAS) to Generally Accepted Accounting 
Principles (GAAP). The comments were received in response to a Staff 
Discussion Paper (SDP) published on March 13, 2019.

FOR FURTHER INFORMATION CONTACT: Raymond Wong, Cost Accounting 
Standards Board Director (Telephone 202-395-6805).
    Availability: The full text of the notice is available on the 
Office of Management and Budget homepage at: https://www.whitehouse.gov/wp-content/uploads/2020/03/2020-03-supp-cas-gaap-gp.pdf.

SUPPLEMENTARY INFORMATION: The Office of Federal Procurement Policy 
(OFPP), Cost Accounting Standards Board (CAS Board or Board), is 
releasing a notice to discuss responses to public comments on the 
guiding principles, roadmap, and template developed by the CAS Board to 
address how it will approach the requirement in section 820 of Public 
Law 114-328 to conform CAS to Generally Accepted Accounting Principles 
(GAAP) to the maximum extent practicable. The March 2019 SDP

[[Page 15818]]

solicited views with respect to the Board's statutory requirement to 
review CAS and conform them, where practicable, to GAAP. Respondents 
were invited to comment on the following six matters: (1) The guiding 
principles proposed for evaluating the benefits and drawbacks of 
conforming CAS to GAAP; (2) a roadmap for prioritizing action and 
explanation of where action may not be beneficial; (3) a template for 
cross-walking CAS coverage to corresponding GAAP coverage; (4) whether 
revision to the CAS contract clause found at 9903.201-4, Contract 
clauses, may be necessary if requirements in the standards are 
eliminated; (5) the initial analysis of CAS 408, Accounting for Costs 
of Compensated Personal Absence, and 409, Cost Accounting Standard 
Depreciation of Tangible Capital Assets, including the Board's 
preliminary observations and specific questions for public feedback; 
and (6) where CAS may need to be modified to conform to changes to GAAP 
that occurred after a related CAS was promulgated, with an initial 
focus on lease accounting and operating revenue recognition. The notice 
being released today relates to respondents' comments on the first four 
matters enumerated above. The Board plans to address the last two items 
with separate advanced notices of proposed rulemaking.

Michael E. Wooten,
Administrator for Federal Procurement Policy, and Chairman, Cost 
Accounting Standards Board.
[FR Doc. 2020-05737 Filed 3-18-20; 8:45 am]
 BILLING CODE 3110-01-P

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