Office of Federal Procurement Policy Finalizes Aligning Rules With Generally Accepted Accounting Principles
September 11, 2025
September 11, 2025
WASHINGTON, Sept. 11 (TNSFR) -- The Office of Management and Budget Office of Federal Procurement Policy finalized a rule to align Cost Accounting Standards (CAS) with Generally Accepted Accounting Principles (GAAP) for operating revenue and lease accounting, effective October 14, 2025. The rule reduces regulatory burdens for federal contractors while maintaining government protections.
The rule eliminates the CAS 403 definition of "operating revenue," adopting GAAP's . . .
The rule eliminates the CAS 403 definition of "operating revenue," adopting GAAP's . . .