[Federal Register Volume 61, Number 40 (Wednesday, February 28, 1996)]
[Rules and Regulations]
[Pages 7616-7661]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4472]




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_______________________________________________________________________

Part IV





Office of Management and Budget





_______________________________________________________________________



Office of Federal Procurement Policy



_______________________________________________________________________



48 CFR Part 9903



Revisions to the Cost Accounting Standards Board Disclosure Statement 
Form; Final Rule

  Federal Register / Vol. 61, No. 40 / Wednesday, February 28, 1996 / 
Rules and Regulations  

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OFFICE OF MANAGEMENT AND BUDGET

Office of Federal Procurement Policy

48 CFR Part 9903


Cost Accounting Standards Board; Revisions to the Cost Accounting 
Standards Board Disclosure Statement Form (CASB DS-1)

AGENCY: Cost Accounting Standards Board, Office of Federal Procurement 
Policy, OMB.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: The Office of Federal Procurement Policy, Cost Accounting 
Standards Board (CASB), is revising its Disclosure Statement Form (CASB 
DS-1). Section 26(g)(1) of the Office of Federal Procurement Policy 
Act, 41 U.S.C. 422(g)(1), requires that the Board, when promulgating 
any new or revised Cost Accounting Standard, publish a final rule. This 
final rule incorporates an updated and revised CASB Disclosure 
Statement developed by the Board.

EFFECTIVE DATE: February 28, 1996.

FOR FURTHER INFORMATION CONTACT: Rein Abel, Director of Research, Cost 
Accounting Standards Board (telephone: 202-395-3254).

SUPPLEMENTARY INFORMATION:

A. Regulatory Process

    The CASB's rules, regulations and Standards are codified at 48 CFR 
Chapter 99. Section 26(g)(1) of the Office of Federal Procurement 
Policy Act, 41 U.S.C. 422(g)(1), requires that the Board, prior to the 
establishment of any new or revised CAS, 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 (ANPRM).
    3. Promulgate a Notice of Proposed Rulemaking (NPRM).
    4. Promulgate a final rule.
    This promulgation completes the four step process.

B. Background

Prior Promulgations

    The original Disclosure Statement Form (CASB DS-1) was developed 
and promulgated in the early 1970s. No revisions to the document were 
made until the Board was reestablished in 1990. In 1992, some minor 
revisions were made. 57 FR 14148, 14159 (April 17, 1992). Subsequently, 
a project was initiated to revise and update the Disclosure Statement 
(CASB DS-1).
    On April 2, 1993, a Staff Discussion Paper incorporating a revised 
Disclosure Statement was distributed to certain interested parties who 
generally possessed actual field experience in submitting and auditing 
these Statements. On the basis of the comments received in response to 
this Staff Discussion Paper, an Advance Notice of Proposed Rulemaking 
(ANPRM) was developed and published in the Federal Register on April 4, 
1994 (59 FR 15695).
    The majority of the comments received in response to the ANPRM were 
generally supportive of the proposed approach, but at the same time, 
numerous revisions were suggested that were intended to improve and 
streamline the document. Many of these suggested revisions were 
incorporated in the Notice of Proposed Rulemaking (NPRM) that was 
published in the Federal Register on November 29, 1994 (59 FR 60948).

Public Comments

    Nine sets of public comments were received in response to the NPRM 
from government contractors, industry associations and Federal 
agencies.
    Most commenters acknowledged that the NPRM version of the DS-1 was 
a significant improvement as compared with the earlier versions of the 
Disclosure Statement. Nevertheless, numerous additional revisions were 
suggested by commenters in order to further simplify and streamline the 
DS-1. Of particular concern to several commenters was the amount and 
type of information needed to respond adequately to questions in Part 
VII of the Statement.
    In general, the Board has tried to be responsive to the suggestions 
made by commenters. In particular, a careful reevaluation of Part VII 
has been undertaken. In reevaluating this Part, the instructions have 
been clarified to make clear that only relevant cost accounting 
practices and applicable identifying data need be disclosed. Therefore, 
numeric data representing accounting estimates is not required to be 
submitted. Also, in most sections of Part VII, the substantive 
questions have been limited to items that cover only 80-percent of the 
relevant cost groupings.
    The commenters overall concerns and suggestions are addressed in 
greater detail under Section E., Public Comments.
    The Board and the CASB staff express their appreciation for the 
constructive suggestions and criticisms provided by the commenters with 
regard to the content of the revised Disclosure Statement. Many of the 
commenters' suggested improvements have been incorporated into the 
final rule being promulgated today.

Benefits

    After consideration of the public comments received, the Board 
believes that the revised Disclosure Statement, as set forth in this 
final rule, will improve the cost accounting practices followed by 
contractors when estimating, accumulating and reporting costs deemed 
allocable to Federal contracts. Adequate disclosure of cost accounting 
practices is essential in order to ensure consistency in cost 
measurement as costs are first estimated and then accumulated and 
reported. A Disclosure Statement that has not been updated for some two 
decades clearly cannot adequately reflect currently prevailing cost 
accounting practices and cost elements. Therefore, in order to ensure 
that the policies and Standards promulgated by the Board are 
implemented in an economical and effective manner, a revised and 
updated Disclosure Statement becomes essential. In addition, the Board 
has previously expressed the view that an updated Disclosure Statement 
should facilitate interaction between contractors and Government 
representatives when dealing with contract costing matters.
    The introduction of the revised statement should not impose any new 
burden on contractors as it merely replaces an existing form which 
requires periodic updating of disclosed practices.
    To further reduce the possibility of increased costs, the extended 
dates for submission of the new Disclosure Statement are designed to 
provide an opportunity to delay submission until such time as 
contractors would most likely have to file an updated disclosure form 
regardless of whether a new Disclosure Statement is introduced or not.

Summary of Amendments

    The primary purpose of this revision of the Disclosure Statement is 
to bring it up to date and to improve it in light of two decades of 
field experience that the government procurement community has had with 
this document. The basic characteristics of the Disclosure Statement 
have not been changed. However, a multitude of specific changes are 
incorporated in the revised Statement. It would be impractical to list 
here all the specific 

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changes. However, most of these changes can be summarized as follows:
    1. The current Disclosure Statement specifies that Parts I through 
VII be prepared at the segment or business unit level, while Part VIII 
should be prepared at the corporate or group headquarters level. This 
revised Statement provides that although Parts V, VI and VII still have 
to be submitted by segments, they may be completed either at the 
segment or headquarters level depending on where the applicable 
practices or procedures are established or where the cost is actually 
incurred.
    2. In general, various legal references have been updated.
    3. As the original Disclosure Statement was in essence prepared 
before any Cost Accounting Standards were issued, the revised format 
includes references to subsequently issued Standards where appropriate. 
In this context, some cost accounting practices described in the 
original Disclosure Statement may not be in compliance with the 
relevant provisions of a Cost Accounting Standard. The purpose of the 
Disclosure Statement is not to elicit noncompliant answers, and 
therefore, any references to potentially non-compliant practices have 
been eliminated.
    4. Requests for certain statistical data have been eliminated as 
this information is no longer used.
    5. Certain new topical areas have been added to the Disclosure 
Statement. These cover items that have become important from a cost 
measurement perspective over the last two decades. The topical areas 
include cost-of-money, post-retirement health benefits and employee 
stock ownership plans. Most of these new topical areas are incorporated 
in a significantly revised Part VII.

C. Paperwork Reduction Act

    The information collection aspects of this rule have been approved 
by the Office of Management and Budget, and assigned Control Number 
0348-0051.

D. Executive Order 12866 and the Regulatory Flexibility Act

    The economic impact of this final rule on contractors and 
subcontractors is expected to be minor. As a result, the Board has 
determined that this final rule does not result in the promulgation of 
a ``major rule'' under the provisions of Executive Order 12866, and 
that a regulatory impact analysis will not be required. Furthermore, 
this final rule does not have a significant effect on a substantial 
number of small entities because small businesses are exempt from the 
application of the Cost Accounting Standards. Therefore, this rule does 
not require a regulatory flexibility analysis under the Regulatory 
Flexibility Act of 1980.

E. Public Comments

    This final rule is based upon the NPRM published in the Federal 
Register on November 29, 1994 (59 FR 60948), wherein public comments 
were invited. Nine sets of comments were received from government 
contractors, industry associations and Federal agencies. The more 
significant comments received, and the Board's actions taken in 
response thereto, are summarized below. Many other comments that were 
more of an editorial nature have been incorporated in the document 
where appropriate.
    Comment: Two commenters suggested that compliant as well as non-
compliant cost accounting practices should be described in the 
Disclosure Statement.
    Response: The Board agrees that the actual cost accounting 
practices being followed must be described. However, where the 
Disclosure Statement provides a list of alternative practices, only 
compliant alternatives will be listed. If the contractor's practice is 
not one of the listed alternatives, the actual practice must be 
described on a continuation sheet. This will not be tantamount to 
conceding that the practice is non-compliant since such a determination 
can only be made after appropriate analysis and review.
    Comment: Several commenters indicated that although the NPRM has 
been significantly improved and streamlined, the draft still contains 
too many questions of a detailed nature that may, in the future, 
increase rather than decrease the opportunities for disputes.
    Response: The Board has, once more, consulted with the respondents 
to the NPRM and all the concerns have been subjected to additional 
review. As a result, some changes have been made to the version 
incorporated in the NPRM that should contribute to further streamlining 
and clarification of the final document. This comment applies in 
particular to Part VII of the Disclosure Statement.
    Comment: At least two commenters indicated that, in their opinion 
the revised document still contains too many pages.
    Response: In the final format there is no substantial difference in 
the length of the original and the final Disclosure Statement.
    Comment: One commenter stressed that whenever possible, existing 
CAS wording or definitions should be used.
    Response: The Board agrees with this suggestion and, wherever 
appropriate, the Disclosure Statement has accordingly been changed.
    Comment: Several contractors indicated that throughout the document 
the term ``CAS-covered contracts'' rather than ``Federal contracts'' 
should be used.
    Response: The Disclosure Statement deals with the cost accounting 
practices of an entity such as a segment or home office and it is 
presumed that cost accounting practices are applied consistently to all 
the applicable final cost objectives. Although the dollar amount of 
CAS-covered contracts received is crucial in determining whether a 
Disclosure Statement has to be filed, once the requirement to file has 
been met, the disclosure will cover all of the entity's policies and 
practices as they affect cost measurement and allocation to all 
contracts. Therefore, a broader term, such as ``Federal contracts'', 
seems preferable to a narrower term such as ``CAS-covered contracts''.
    Comment: Two commenters suggested a shorter implementation period 
than the one proposed in the NPRM.
    Response: While the Board encourages early adoption of the new 
form, it does not believe that it can adequately envision all the 
circumstances that might arise necessitating a delay in the 
introduction of the new form. It believes that any deadline imposed for 
the introduction of the new form should make ample provision for any 
unexpected difficulties that may arise at the implementation stage. 
Therefore, the final filing date for existing contractors has not been 
changed, although the Board hopes that an earlier adoption is possible 
in most cases.
    Comment: Several commenters expressed some criticism of the 
procedure outlined in  General Instructions that allows parts of 
contractors' accounting manuals to be incorporated by reference in the 
Disclosure Statement.
    Response: The wording in the Instructions has been changed to make 
it clear that the procedure in question is an optional one--
particularly from the perspective of the contractor.
    Comment: Several commenters suggested that the language be 
clarified to indicate the appropriate circumstances in which home 
offices may be able to complete Parts V, VI, or VII to be filed by 
segments reporting to the home office.
    Response: The language in the General Instructions has been 
clarified. In particular, it has been made clear that where the home 
office establishes the applicable cost accounting policies and 

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procedures, it may also complete the relevant Parts of the Disclosure 
Statement to be submitted by its subordinate segments.
    Comment: Several commenters offered suggestions for clarifying the 
layout and terminology used on the Cover Sheet.
    Response: Certain changes have been made to the Cover Sheet, in 
particular to item 0.2, Reporting Unit Classification, in order to 
introduce standard CAS terminology and definitions whenever 
appropriate.
    Comment: Several commenters pointed out that in Part I, General 
Information, the wording of several items could be improved in order to 
ensure that the questions are more clearly focused and take into 
account current practices.
    Response: Some changes have been made to Part I to reflect the 
suggestions made by several commenters. In particular, the question 
dealing with unallowable costs has been reformatted so as to reflect 
the basic structure of CAS 9904.405, Accounting for Unallowable Costs.
    Comment: A number of comments were received concerning the 
formulation of questions in Part II, Direct Costs, dealing with direct 
material, direct labor and other direct costs. Some commenters 
suggested that the questions included in this part might be more 
appropriate elsewhere, such as in Part III, Direct vs. Indirect Costs, 
of the Disclosure Statement.
    Response: The basic characteristic of Part II, as a section dealing 
with direct material, direct labor and other direct costs has been 
retained. The purpose here is to obtain information on how certain 
elements of cost are treated once it has been determined that they 
represent direct costs for government contract costing purposes. 
Therefore, items such as the question dealing with employee travel 
expenses that are directly charged to contracts have been retained.
    On the other hand, as suggested by several commenters, the question 
dealing with interorganizational transfers has been eliminated 
primarily because it requested information about the cost accounting 
practices of the transferor and not of the transferee who is preparing 
the Disclosure Statement. It cannot be assumed that such information is 
always readily available to the transferee. The transferee's practices 
in this area are covered in Part IV, Indirect Costs.
    Comment: A few commenters suggested that Part III should be 
drastically recast--including a suggestion that instead of long lists 
of functions, elements of cost and transactions, the equivalent 
information should be described on a continuation sheet.
    Response: The existing format has been retained as it seems to be 
the most effective way to obtain the relevant information on whether an 
item of cost is being treated as a direct cost, as an indirect cost or 
as a sometimes direct/sometimes indirect cost. The lists of functions, 
elements of cost and transactions have been somewhat modified on the 
basis of comments received.
    Comment: In Part IV, several commenters pointed out that the 
subtitles used to describe various methods of allocating General and 
Administrative (G&A) expense did not properly reflect the requirements 
of CAS 9904.410, Allocation of Business Unit General and Administrative 
Expenses to Final Cost Objectives.
    Response: The subtitles in question have been modified to conform 
more closely to the requirements of CAS 9904.410.
    Comment: A number of commenters were concerned about the amount of 
detail required in Part IV dealing with modified allocations from 
indirect cost pools using a modified allocation base or a rate that is 
either more or less than the normal ``full rate''. Some commenters 
indicated that too much detail was requested regarding those modified 
allocations whereas others expressed the view that more information 
should be made available.
    Response: Certain parts of Part IV, in particular the question 
dealing with the application of overhead and G&A rates to specified 
transactions or costs, have been restated in an attempt to present a 
more effective and balanced data gathering instrument. It should, once 
more, be remembered that the aim has been to provide a vehicle for a 
contractor to disclose its CAS compliant cost accounting practices. 
Therefore, the Disclosure Statement should not be regarded as a 
substitute for an audit check list. It is for this reason that non-
compliant practices have been expressly excluded from the Disclosure 
Statement.
    Comment: Several commenters suggested changes in the format in 
which questions regarding Independent Research and Development (IR&D) 
and Bid and Proposal (B&P) costs were presented in Part IV.
    Response: The two questions that previously dealt separately with 
IR&D and B&P respectively have been combined to provide a more compact 
approach to the topic. In particular, the new approach, unlike the one 
in the NPRM, does not presuppose that every contractor who incurs B&P 
expense also has incurred IR&D expense--a supposition that does not 
necessarily hold for civilian agencies.
    Comment: One commenter suggested that the headings in the question 
in Part VI, Other Costs and Credits, dealing with charging and 
crediting vacation, holiday and sick pay be rearranged.
    Response: The column headings have been changed to reflect the fact 
that salaried exempt and non-exempt employees (as defined by the Fair 
Labor Standards Act) are generally treated differently in this area.
    Comment: Regarding Part VII, Deferred Compensation and Insurance 
Costs, most commenters representing contractors expressed the view that 
too much detailed and possibly superfluous and ambiguous information 
was required with respect to the various pension, post-retirement 
health, deferred compensation and insurance plans. One commenter had 
actually tested the proposed NPRM requirements by using actual plan 
data in completing selected parts of the various sections in Part VII. 
The estimated time to complete these various sections were clearly 
significant and possibly burdensome when extrapolated to cover the 
whole of Part VII. Even though the data submitted was not verified on 
an overall basis, it did provide valuable insight into the relative 
amount of time required to complete the various individual questions. 
The data also distinguished between time required on a ``recurring'' 
basis to keep the Disclosure Statement current, as contrasted with the 
initial effort of ``non-recurring'' time required to prepare the 
original submission. The general comments regarding time required to 
complete Part VII were frequently supplemented by specific suggestions 
regarding individual sections or questions.
    Response: The Board is grateful to those commenters who spent 
significant amounts of time to prepare constructive comments on this 
part of the Disclosure Statement. In particular, the Board would like 
to express its gratitude to the commenter who actually completed 
sections of Part VII and made the relevant data available to the Board.
    As a result of the input received from commenters, Part VII has 
been substantially redesigned in order to make it more ``user 
friendly''. When dealing with pension plans, post-retirement health 
benefits, employee group insurance, deferred compensation, and worker's 
compensation and property insurance, the amount of detailed information 
related to various aspects of cost measurement has been substantially 

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reduced. The detailed data is required only for those plans or policies 
that account for 80-percent of the relevant category of costs--provided 
data on at least three plans is disclosed. Only a limited amount of 
general plan information is sought for all the other plans. By 
excluding the less significant plans from the more detailed disclosure 
requirements, it is anticipated that the paperwork burden will be 
significantly eased.
    Some commenters also inferred that in certain instances actual 
numeric data was requested that would have to be updated annually. It 
has been made clear in the final document that when dealing with such 
items as actuarial assumptions, only the basis used to determine 
numeric values need be disclosed and not the actual values themselves. 
This clarification should ensure that no regular annual updates of the 
Disclosure Statement are prepared and submitted merely to reflect 
changes in the relevant numeric values.
    Other, more specific changes to the various sections of Part VII 
are summarized below:
    Pension Plans. The number of General Plan Information questions has 
been reduced from nine in the NPRM to six in the final document.
    In the NPRM, the information requested for Defined Contribution 
Plans applied to all plans of this type. In the final version, if there 
are more than three plans, this information has to be supplied only for 
plans that account for 80-percent of the defined contribution plan 
costs.
    Defined Benefit Plans. The number of questions asked in this area 
has not been changed. However, the topics covered and the manner of 
presentation have been somewhat changed. In particular, it has been 
made clear that regarding actuarial assumptions, no disclosure of 
actual numeric values is required. Only the basis for determining these 
numeric values need be described.
    Post-Retirement Benefits (PRBs). This section has been rearranged 
to conform with the pattern established for pension plans in the 
previous section. In the NPRM, the questions posed were applicable to 
all PRB plans. In the final rule, questions dealing with general plan 
information have been separated from questions dealing with more 
specific aspects of PRB cost determination. The latter group consists 
of five questions and they have to be completed only for those plans 
that, in the aggregate, account for at least 80-percent of the total 
PRB costs. However, if there are three plans or less, then data on all 
the plans must be disclosed.
    Employee Group Insurance Programs. Responses to this section of 
Part VII of the NPRM indicated that it was the most time consuming 
section to complete. Therefore, some significant changes have been made 
to the amount of information to be disclosed. First, if there are more 
than three policies or self-insurance plans, the applicable information 
should be provided only for those policies and self-insurance plans 
that, in the aggregate, account for at least 80-percent of the costs of 
the program for each category of insured risk. Second, the information 
previously requested under three separate questions has been recast as 
a single question in a tabular form. Third, a number of specific 
questions dealing with treatment of dividends, earned refunds, and 
employee contributions have been dropped as these items are largely 
covered by the provision of CAS 9904.416, Accounting for Insurance 
Costs. It is anticipated that the time needed to complete this section 
of Part VII will be significantly reduced as a result of the changes 
listed above.
    Deferred Compensation Plans. This section has been recast to 
conform to the format used in the sections dealing with pension plans 
and PRBs. Therefore, the first five questions dealing with general plan 
information are applicable to all the plans. Two other questions, of a 
more substantive nature, should be completed for all the plans if there 
are no more than three plans. If there are more than three plans, the 
information should be provided for those plans that in the aggregate 
account for at least 80-percent of these deferred compensation costs.
    Employee Stock Ownership Plans (ESOPs). Questions in this section 
have been reformulated, and, as a result, the total number of these 
general plan information questions has been increased by two as 
compared with the NPRM. These questions must be completed for all 
ESOPs.
    Worker's Compensation Liability and Property Insurance. This 
section has been rearranged to conform to the format used in dealing 
with employee group insurance plans. In addition, the term ``line of 
insurance'' has been introduced in an attempt to clarify the nature of 
the aggregation of costs for which the relevant cost data has to be 
disclosed. In this context, for the purpose of guidance, ``line of 
insurance'' has the meaning attributed to it in Generally Accepted 
Auditing Standards (GAAS) literature (see AICPA Audit and Accounting 
Guide, Audits of Property and Liability Insurance Companies) and 
includes groupings such as fire and similar perils, general liability, 
marine perils, automobile liability and property damage, worker's 
compensation, theft, etc. If there are more than three policies or 
self-insurance plans, the applicable information should be provided 
only for those policies and plans that in the aggregate account for at 
least 80-percent of the applicable costs for a line of insurance. Also, 
two separate questions have been combined into a single question in a 
tabular form.
    Comment: Several comments relating to Part VIII, Corporate or Group 
Expenses, dealt with the requirement in the NPRM to ``list all active 
segments and groups that are material in size reporting to the home . . 
. office''. Suggestions received included deletion of the words 
``all'', ``active'', and ``that are material in size'' in the above 
quote from the first question in this part. At least one commenter 
suggested that if the term ``material'' is used, criteria for 
materiality should be developed.
    Response: The suggestions regarding deletions have been accepted by 
the Board. The restated sentence reads: ``list segments and other 
intermediate level home offices reporting to this home office.''
    The Board believes that this is an area where the individuals 
implementing the Standards and other regulations necessarily must 
exercise their own judgment in carrying out their tasks. The objective 
of this provision in the Disclosure Statement is to obtain a listing of 
segments and other entities to which home office expenses may be 
allocated. This allocation is part of the cost determination process 
for government contract costing purposes. Furthermore, this cost 
determination process, which includes all the relevant pronouncements 
of the Board, is subject to the materiality provisions of 9903.305. 
Specific reiteration of the materiality provision in each instance is 
not needed. Therefore, the requirement in the present instance is to 
list all the segments or other entities reporting to the home office 
that may have other than immaterial impact on the cost allocation 
process from the home office to its subordinate entities.
    Comment: Several suggestions were received to improve and 
streamline the main section of Part VIII that deals with the pooling 
and allocation of home office expenses.
    Response: Several of the suggestions received have been adopted. An 
addition has been made to the list of allocation base codes used and 
one question in the NPRM has been eliminated and its substance combined 
with another question. 

[[Page 7620]]


List of Subjects in 48 CFR Part 9903

    Cost accounting standards, Government procurement.
Richard C. Loeb,
Executive Secretary, Cost Accounting Standards Board.

    For the reasons set forth in this preamble, chapter 99 of title 48 
of the Code of Federal Regulations is amended as set forth below:
    1. The authority citation for Part 9903 continues to read as 
follows:

    Authority: Public Law 100-679, 102 Stat. 4056, 41 U.S.C. 422.

PART 9903--CONTRACT COVERAGE

Subpart 9903.2--CAS Program Requirements

    2. Section 9903.202 is amended by deleting the illustrated CASB DS-
1 and inserting a revised CASB DS-1.

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[FR Doc. 96-4472 Filed 2-27-96; 8:45 am]
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