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 Management and Budget (OMB), Cost Accounting Standards Board (the Board), is publishing a final rule rescinding Cost Accounting Standard (CAS) 407 to conform it with Generally Accepted Accounting Principles (GAAP). One definition is transferred to a different location within chapter 99 of title 48, Code of Federal Regulations. This final rule follows issuance of a Notice of Proposed Rulemaking (NPRM) (91 FR 13562).

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

What changed in the regulation

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

48 CFR 9903, 48 CFR 9904

Wording on eCFR: the day before it took effect and from the day it took effect (first part listed).

Compared with

The Federal Procurement Policy Office has published 6 final rules in 2026 so far, compared with 11 in all of 2025.

Counted by the Tribune from Federal Register records since Jan. 1, 2025.

Before this

1 earlier Federal Register document under regulation identifier 0348-AB91 since Jan. 1, 2025.

• March 20, 2026 Notice of proposed rulemaking. 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

Effective date: October 1, 2026.

The agency's dates, word for word.

Check it yourself

• The document in the Federal Register
• Title 48 on eCFR

The record as published

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