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Public-Private Partnerships On The Rise

Client Alert | less than 1 min read | 04.22.09

In "Funding America's Infrastructure Needs: Public-Private Partnerships May Help Close Infrastructure Gap," in the March 2009 issue of Construction Briefings, Steve McBrady of C&M examines the increasing use of Public-Private Partnerships (PPPs) in American infrastructure, as the federal government, states, and localities seek innovative mechanisms for upgrading and operating critical infrastructure. The recently passed American Recovery and Reinvestment Act of 2009, the Obama administration's proposal for a National Infrastructure Reinvestment Bank, and the upcoming Transportation Re-Authorization bill, will bolster these efforts and generate increased focus on the use of PPPs across the country.

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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  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which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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