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A Day Early Is Too Late

Client Alert | less than 1 min read | 09.29.04

In Guam Shipyard [September 16, 2004], GAO held that a protest of the terms of an RFQ was untimely when it was transmitted to GAO the day before quotes were due, but that day was a federal holiday. GAO acknowledged that the protester had sent the protest to GAO on July 5 by both facsimile and e-mail, and that GAO had received both on that day; however, because documents are considered filed only on days when GAO is open for business, the protest was not deemed filed until 8:30 am on July 6 -- the same day, but several hours after, quotes were due in Japan.

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Client Alert | 1 min read | 07.08.26

CAS Board Publishes Final Rule Rescinding CAS 404, 408, 409, and 4117

As part of its ongoing effort to conform the Cost Accounting Standards (“CAS”) to generally accepted accounting principles (“GAAP”), the CAS Board published a final rule rescinding CAS 408 (Accounting for costs of compensated personal absence) and CAS 411 (Accounting for acquisition costs of material).  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which will be located in new paragraphs of CAS 405 (Accounting for unallowable costs).  Specifically, the CAS Board retained the requirements currently located at CAS 404-50(d)(1), CAS 409-50(e)(5), CAS 409-50(j)(1), and CAS 409-50(j)(4), which the CAS Board explained are necessary to protect the Government’s interests.  Otherwise, the CAS Board determined that the requirements of CAS 404, 408, 409, and 411 overlapped with GAAP such that GAAP “may be applied reasonably as a substitute for CAS to support contract cost and pricing.”...

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