[Federal Register Volume 89, Number 82 (Friday, April 26, 2024)]
[Notices]
[Page 32461]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-09026]


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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 upcoming meetings. The meetings are closed to 
the public.

ADDRESSES: New Executive Office Building, 725 17th Street NW, 
Washington, DC 20503.

FOR FURTHER INFORMATION 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 upcoming meetings 
scheduled for April 29, 2024 and June 27, 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.

Agenda for CAS Board Meetings During the Third 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 Cost Accounting Standards (CAS), where practicable, to GAAP. In 
furtherance of section 1501(c)(2), the CAS Board will consider issuance 
of an advanced notice of proposed rulemaking (ANPRM) to address 
conformance of CAS 404, Capitalization of Tangible Assets, and CAS 411, 
Accounting for Acquisition Costs of Material, to GAAP based on public 
comments received in response to the Staff Discussion Paper (85 FR 
58399, September 2020).
    2. Review of Court and Board Decisions Related to CAS. 41 U.S.C 
1501(c)(3) requires the CAS Board to annually review disputes brought 
before the Boards of Contract Appeals (BCAs) or federal courts 
involving its standards and consider whether greater clarity in CAS 
could avoid such disputes. The Board will discuss decisions by the BCAs 
and courts involving its standards since the last formal review 
conducted by the previous Board in 2019.
    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. Public input. The Board will reserve time to discuss any 
suggestions that may be received from the public in response to the 
February 27, 2024 notice (89 FR 14523) and 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. 2024-09026 Filed 4-25-24; 8:45 am]
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