Management and Budget Office July 22, 2005 – Federal Register Recent Federal Regulation Documents

Cost Accounting Standards Board; Accounting for the Costs of Employee Stock Ownership Plans (ESOPs) Sponsored by Government Contractors
Document Number: 05-13951
Type: Proposed Rule
Date: 2005-07-22
Agency: Management and Budget Office, Office of Federal Procurement Policy, Federal Procurement Policy Office, Executive Office of the President
The Cost Accounting Standards Board (CASB), Office of Federal Procurement Policy, invites public comments on proposed amendments to the Cost Accounting Standards (CAS) 412, ``Cost accounting standard for composition and measurement of pension cost,'' and CAS 415, ``Accounting for the cost of deferred compensation.'' These proposed amendments address issues concerning the recognition of the costs of Employee Stock Ownership Plans (ESOPs) under Government cost-based contracts and subcontracts. These proposed amendments provide criteria for measuring the costs of ESOPs and their assignment to cost accounting periods. The allocation of a contractor's assigned ESOP costs to contracts and subcontracts is addressed in other Standards. The proposed amendments also specify that accounting for the costs of ESOPs will be covered by the provisions of CAS 415, ``Accounting for the cost of deferred compensation'' and not by any other Standard.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.