CASB--Cost Concepts

AFMD-93-29R: Published: Jan 13, 1993. Publicly Released: Jan 27, 1993.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO reviewed the Cost Accounting Standards Board's (CASB) statement of objectives, policies, and concepts, focusing on possible statement revisions. GAO found that CASB should: (1) delete the reference to the equity concept, since the concept has several different meanings in an accounting context; (2) define materiality and use the former CASB list of criteria to determine whether amounts are material or immaterial; (3) explain the circumstances under which it may deviate from the pronouncements of other authoritative bodies; (4) clarify that a causal relationship is the primary basis for allocating costs, and a beneficial relationship is secondary, since the terms causal and beneficial are not synonymous; and (5) publish its statements and standards in a separate document which is readily available to those interested in cost accounting standards.

Oct 20, 2017

Oct 2, 2017

  • auditing icon, source: PhotoDisc

    U.S. Territories:

    Public Debt Outlook
    GAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

Sep 26, 2017

Jul 13, 2017

Jul 12, 2017

Jun 30, 2017

Jun 29, 2017

Jun 14, 2017

Jun 13, 2017

Looking for more? Browse all our products here