# Conformance of Cost Accounting Standards to Generally Accepted Accounting Principles for CAS 407 Use of Standard Costs for Direct Material and Direct Labor

**Action Urgency Score:** 30/100

| Field | Value |
|---|---|
| Agency | Management and Budget Office; Federal Procurement Policy Office |
| Type | Final rule |
| Action | Final rule. |
| Published | 2026-09-01 |
| Effective | 2026-10-01 |
| Significant | No |
| CFR parts | 48 CFR 9903, 48 CFR 9904 |
| Summary | The Office of Management and Budget (OMB), Cost Accounting Standards Board (the Board), is publishing a final rule rescinding Cost Accounting Standard (CAS) 407 to conform it with Generally Accepted Accounting Principles (GAAP). One definition is transferred to a different location within chapter 99 of title 48, Code of Federal Regulations. This final rule follows issuance of a Notice of Proposed Rulemaking (NPRM) (91 FR 13562). |
| Document number | 2026-17903 |

## Why this score
- Final rule.

Source: Federal Register API (Office of the Federal Register) (https://www.federalregister.gov/documents/2026/09/01/2026-17903/conformance-of-cost-accounting-standards-to-generally-accepted-accounting-principles-for-cas-407-use). Last refreshed: 2026-11-03T19:10:06.902Z.
Data from the Federal Register API; the published Federal Register document is authoritative. Informational only, not legal advice.