Cost Accounting Standards Board Meeting Agenda, 14523 [2024-03891]
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Federal Register / Vol. 89, No. 39 / Tuesday, February 27, 2024 / Notices
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lotter on DSK11XQN23PROD with NOTICES1
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Signed at Washington, DC, on February 20,
2024.
Leslie A. Bennett,
Chief, Division of Management Systems.
[FR Doc. 2024–03942 Filed 2–26–24; 8:45 am]
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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.
ACTION: Notice of agenda for Closed Cost
Accounting Standards Board meetings.
AGENCY:
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: john.l.mcclung2@
omb.eop.gov).
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.
SUMMARY:
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
PO 00000
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14523
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]
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AGENCY:
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27FEN1
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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 [www.gpo.gov]
[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.
-----------------------------------------------------------------------
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:
[email protected]).
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]
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