Rule lifecycle · RIN:0348-AB91
Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407 Use of Standard Costs for Direct Material and Direct Labor
Office of Management and Budget, Office of Federal Procurement Policy — observed across 2 documents over 165 days. Use the source documents below before deciding whether this affects your business.
In plain English
Federal contractors must now use the same cost accounting methods for government contracts as they use for regular business activities. If your company does government contract work, review your current cost accounting practices and prepare to update them by October 1, 2026.
First seen
Mar 20, 2026
Last seen
Sep 1, 2026
Latest stage
Rule
PRORULE → RULE
165d
Effective on
Thursday, October 1, 2026
Stage timeline
Proposed·Mar 20, 2026
Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407 Use of Standard Costs for Direct Material and Direct Labor
comments close Apr 20, 2026#2026-05512
Final·Sep 1, 2026·91 FR 56061
Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407 Use of Standard Costs for Direct Material and Direct Labor
effective Oct 1, 2026#2026-17903