📊Conformance of Cost Accounting Standards to GAAP Revenue Accounting
The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board (the Board), is publishing, with additional clarification based on public comments from the notice of proposed rulemaking (NPRM), a final rule revising the Cost Accounting Standards (CAS) to conform them with changes in Generally Accepted Accounting Principles (GAAP) related to operating revenue and lease accounting. This final rule follows issuance of a NPRM, June 27, 2024; an advanced notice of proposed rulemaking (ANPRM), November, 5, 2020; and a Staff Discussion Paper (SDP), March 13, 2019.
Learn More📉Proposed Elimination of Cost Accounting Standards for GAAP Conformance
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 404, 408, 409, and 411 to Generally Accepted Accounting Principles (GAAP). This notice combines CAS Board Case 2020-01 related to CAS 404 and CAS 411 and CAS Board Case 2021-02 related to CAS 408 and CAS 409 to provide a streamlined and efficient process for expedited completion of rulemaking for these two cases.
Learn More💼Federal Acquisition Regulation - Inflation Adjustments for 2025
This document is issued under the joint authority of OFPP, DoD, GSA, and NASA. This Small Entity Compliance Guide has been prepared in accordance with section 212 of the Small Business Regulatory Enforcement Fairness Act of 1996. It consists of a summary of the rule appearing in Federal Acquisition Circular (FAC) 2025-06, which amends the Federal Acquisition Regulation (FAR). Interested parties may obtain further information regarding this rule by referring to FAC 2025-06, which precedes this document.
Learn More📄Federal Acquisition Regulation Technical Amendments Overview
This document amends the Federal Acquisition Regulation (FAR) to make needed editorial changes.
Learn More📄Defense Acquisition Regulations Update
The Defense Acquisition Regulations System has submitted to OMB for clearance the following proposal for collection of information under the provisions of the Paperwork Reduction Act.
Learn More📊Executive Order 14319
Executive Order 14319 aims to prevent biases in artificial intelligence used by the federal government. It mandates the adoption of "Unbiased AI Principles" for federally procured AI models, emphasizing truth-seeking and ideological neutrality. The order establishes guidelines for implementing these principles and outlines the responsibilities of federal agencies in maintaining the integrity of AI outputs.
Learn More📑Overview of Extraordinary Contractual Action Requests Regulations
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to OMB a request to review and approve an extension of a previously approved information collection requirement regarding extraordinary contractual action requests.
Learn More📊Cost Accounting Standards Board Meeting Agenda Overview
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.
Learn More❌Procurement List Deletions
This action deletes product(s) and service(s) from the Procurement List that were furnished by nonprofit agencies employing persons who are blind or have other severe disabilities.
Learn More💼OMB Review of Federal Acquisition Regulation Part 32 Requirements
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to OMB a request to review and approve an extension of a previously approved information collection requirement regarding certain Federal Acquisition Regulation part 32 requirements.
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