Regulation & law · 05/11/2020Updated: 10/17/2026 · 1 min read

OFPP Publishes Advance Notice of Proposed Rulemaking on Cost Accounting Standards Conformance to GAAP

The Office of Federal Procurement Policy and the Cost Accounting Standards Board are releasing an advance notice of proposed rulemaking to address the potential alignment of the Cost Accounting Standards with Generally Accepted Accounting Principles for operating revenue and lease accounting, following a 2019 Staff Discussion Paper.