[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]
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