[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.

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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 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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