Regulation & law · 11/09/2025

Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for Operating Revenue and Lease Accounting

The Office of Federal Procurement Policy (OFPP) and the Cost Accounting Standards Board (CASB) are publishing 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, following a notice of proposed rulemaking (NPRM) issued on June 27, 2024.