[Federal Register Volume 84, Number 224 (Wednesday, November 20, 2019)]
[Notices]
[Page 64110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25169]


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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.

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SUMMARY: The Office of Federal Procurement Policy (OFPP), Cost 
Accounting Standards Board (CAS Board) is publishing this notice to 
advise the public of its fall 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 in the Federal Register. The meetings 
are closed to the public.

DATES: November 21, 2019.

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: 
[email protected]). The CAS Board is issuing this notice for public 
awareness of a meeting held on October 8, 2019 and a meeting upcoming 
on November 21, 2019. 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 above.

Agenda for CAS Board Meetings on October 8, 2019 and November 21, 2019

    1. Conformance of Cost Accounting Standards (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 is discussing 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) A notice addressing public comments received on 
its framework principles to guide its conformance analyses; (2) an 
advanced notice of proposed rulemaking (ANPRM) addressing the 
conformance of CAS to GAAP on revenue recognition and lease accounting; 
and (3) an 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. The CAS Board will 
also discuss an SDP on conformance of CAS 404, Capitalization of 
Tangible Assets, and CAS 411, Accounting for Acquisition Costs of 
Material, to GAAP.
    2. CAS Board Annual Report for Fiscal Year 2019. Section 820 
amended 41 U.S.C. 1501(e) to require the Board to submit a report to 
Congress annually on the actions taken by the Board during the prior 
year. The Board is reviewing its FY 2019 activities in preparation of 
the drafting of its first annual report to Congress.

Michael E. Wooten,
Administrator for Federal Procurement Policy, and Chair, Cost 
Accounting Standards Board.
[FR Doc. 2019-25169 Filed 11-19-19; 8:45 am]
 BILLING CODE 3110-01-P