Administracja i zamówienia · 17/05/2012

Federal Acquisition Regulation; Updated Postretirement Benefit (PRB) References

The Department of Defense (DoD), General Services Administration (GSA), and NASA are proposing to update the Federal Acquisition Regulation (FAR) to remove outdated references to accounting standards, replacing them with new criteria for determining the allowability of transition obligations when converting to accrual accounting for postretirement benefits. This change aims to align government contract cost accounting with the authoritative Generally Accepted Accounting Principles (GAAP).