July 10Jul 10 comment_99422 OMB finally changed many of the CAS requirements from the government 51 year old standards. The rule generally brings requirements close to commercial standards and Generally Accepted Accounting Principles (GAAP). This should make it easier for new companies to enter the federal marketplace.Federal RegisterConformance of Cost Accounting Standards to Generally Acc...The Office of Management and Budget (OMB), Cost Accounting Standards Board (the Board), is publishing a final rule wholly rescinding Cost Accounting Standards (CAS) 408 and 411 and rescinding most proOMB says the final rule eliminated 68 of the 72 individual requirements and eliminated 10,000 words of text. Report
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