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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 48 - Federal Acquisition Regulations System |
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Chapter 99 - Cost Accounting Standards Board, Office of Federal Procurement Policy, Office of Management and Budget |
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SubChapter B - Procurement Practices and Cost Accounting Standards |
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Part 9904 - Cost Accounting Standards |
§ 9904.411-20 - Purpose.
Latest version.
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9904.411-20 Purpose.
(a) The purpose of this Cost Accounting Standard is to provide criteria for the accounting for acquisition costs of material. The Standard includes provisions on the use of inventory costing methods. Consistent application of this Standard will improve the measurement and assignment of costs to cost objectives.
(b) This Cost Accounting Standard does not cover accounting for the acquisition costs of tangible capital assets nor accountability for Government-furnished materials.
[57 FR 14153, Apr. 17, 1992; 57 FR 34167, Aug. 3, 1992]