Federal Acquisition Regulation; Impairment of Long-Lived Assets
other · US Department of Defense · Rule · Published 1996-12-20 · Effective 1997-02-18 · 61 FR 67423
Document
Document number
96-32010
Federal Register citation
61 FR 67423
CFR reference
48 CFR 31
Type
Rule
Action
Interim rule adopted as a final rule with changes.
Category
other
Sub-agency
US Department of Defense
Publication date
1996-12-20
Effective date
1997-02-18
DOD docket
FAC 90-43
Abstract
The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council have agreed to a final rule to amend the Federal Acquisition Regulation (FAR) to clarify the cost allowability rules concerning the recognition of losses when carrying values of impaired assets are written down for financial reporting purposes. This regulatory action was not subject to Office of Management and Budget review under Executive Order 12866, dated September 30, 1993, and is not a major rule under 5 U.S.C. 804.