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Congress Considers Tweaking IT Spending

Client Alert | less than 1 min read | 10.17.16

On October 5, the Senate Finance Committee sent a letter to commercial information technology providers requesting information about “whether federal agencies, to the fullest extent possible, incorporate preexisting, commercial and non-developmental IT solutions into their modernization efforts and if not, the barriers to their doing so.” Noting that the federal government spent about $80 billion on IT in FY 2015, the committee requested “recommendations” sent to ITContracting@finance.senate.gov by November 2, 2016, for how competition for IT contracts could be broadened by increased use of commercial contracting procedures and fixed-price contracts or changes to evaluation criteria and source selection factors.

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  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which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