Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407 Use of Standard Costs for Direct Material and Direct Labor

What it does

The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board (the Board), is releasing this notice of proposed rulemaking (NPRM) to elicit public comments on proposed changes to the Cost Accounting Standards (CAS) to conform CAS 407 to Generally Accepted Accounting Principles (GAAP). The Board is performing the work under case number, CASB 2025-02.

The Federal Procurement Policy Office's summary, as published in the Federal Register.

What it would change

2 parts of Title 48 of the Code of Federal Regulations:

48 CFR 9903, 48 CFR 9904

Before this

No earlier Federal Register document under regulation identifier 0348-AB91 since Jan. 1, 2025.

Since then:

• Sept. 1, 2026 Final rule. Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407 Use of Standard Costs for Direct Material and Direct Labor

What happens next and when

Comments must be in writing and must be received by April 20, 2026.

The agency's dates, word for word.

Check it yourself

• The document in the Federal Register
• Docket OMB-2026-0002 on Regulations.gov
• Title 48 on eCFR

The record as published

Source: the Federal Register (public domain). The document in the Federal Register