# Federal Acquisition Regulation; Gains and Losses, Maintenance and Repair Costs, and Material Costs
> **US Department of Defense** · Final rule. · Published 2004-06-18 · Effective 2004-07-19 · 69 FR 34242
## Document
- **Document number:** 04-13626
- **Category:** other
- **Sub-agency:** US Department of Defense
- **Federal Register citation:** 69 FR 34242
- **CFR reference:** 48 CFR 31
- **Publication date:** 2004-06-18
- **Effective date:** 2004-07-19
- **DOD docket:** FAC 2001-24
## Abstract

The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) have agreed on a final rule amending the Federal Acquisition Regulation (FAR) by deleting the cost principle regarding maintenance and repair costs, and revising the cost principles regarding contingencies, material costs, and training and education costs. The rule revises the cost principles by improving clarity and structure, and removing unnecessary and duplicative language. The revisions are intended to amend the FAR regarding contract cost principles and procedures in light of the evolution of generally accepted accounting principles (GAAP), the advent of acquisition reform, and experience gained from implementation of the FAR regarding contract cost principles and procedures.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2004/06/18/04-13626/federal-acquisition-regulation-gains-and-losses-maintenance-and-repair-costs-and-material-costs)
---
*AI Analytics · CC0 1.0*