CAS Board Amends Capitalization of Assets Standard
The Cost Accounting Standards Board made some technical corrections to CAS 404, Capitalization of Tangible Assets.” In 1996, contractors’ minimum cost criteria for capitalization of assets was increased from $1,500 to $5,000 in the body of the text but the change was not made in the illustrations so the recent amendment seeks to correct this (Fed. Reg. 37706, 6/30/05).
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