Deputy Administrator for Federal Procurement Policy

0348-AB91 202510 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 0348 Office of Management and Budget OMB Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407--Use of Standard Costs for Direct Material and Direct Labor

The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards Board, is proposing changes to the Cost Accounting Standards (CAS) to conform CAS 407 to Generally Accepted Accounting Principles. CAS 407 provides guidelines for using standard costs to estimate, accumulate, and report costs of direct material and direct labor. This standard ensures consistency and fairness in cost accounting practices across government contractors. CAS 407 was initially published April 1, 1974, at 39 FR 11869

]]> Other Significant First Time Published in The Unified Agenda Final Rule Stage No No Deregulatory Not Yet Determined Pub. L. No. 111-350 124 Stat. 3677 41 U.S.C. 1502 No Notice of Proposed Rulemaking 03/20/2026 91 FR 13562 Notice of Proposed Rulemaking Comment Period End 04/20/2026 Final Action 09/00/2026 No No Undetermined No No No No Mathew Blum Deputy Administrator for Federal Procurement Policy 0348 Office of Management and Budget OMB 202 395-4953 mathew_c._blum@omb.eop.gov