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FAR RIN: 9000-AM00 Publication ID: Spring 2011 
Title: FAR Case 2010-005,Updated Financial Accounting Standards Board Accounting References 
Abstract: DoD, GSA, and NASA propose to amend the Federal Acquisition Regulation to update references to authoritative accounting standards owing to the Financial Accounting Standards Board's Accounting Standards Codification of Generally Accepted Accounting Principles (GAAP) ("Codification of GAAP"). In June of 2009, the FASB announced, in its Statement Number 168, that effective for financial statements issued for interim and annual periods ending after September 15, 2009, the FASB ASC would become the source of authoritative U.S. GAAP recognized by the FASB to be applied by nongovernmental entities. The FASB stated that this codification supersedes existing references in U.S. GAAP. Consequently, the superseded references in three FAR sections are being updated with the GAAP Codification references. 
Agency: DOD/GSA/NASA (FAR)(FAR)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 48 CFR 31    48 CFR 52   
Legal Authority: Not Yet Determined   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  02/16/2011  76 FR 8989   
NPRM Comment Period End  04/18/2011    
Final Rule  11/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Federal 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Edward Chambers
Procurement Analyst
DOD/GSA/NASA (FAR)
1800 F Street, NW.,
Washington, DC 20405
Phone:202 501-3221
Email: edward.chambers@gsa.gov