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The Federal Drive with Terry Gerton
DoD moves to replace government-unique accounting standards with GAAP
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The Pentagon is moving away from government-unique cost accounting rules towards standards that are widely used in the commercial sector to make it a lot easier for commercial firms to do business with the department. While it is a huge step for the Defense Department, putting it into practice is going to take a long time. Federal News Network’s Anastasia Obis has more. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.