Cost Accounting Standards (CAS), promulgated by Part 30 of the Federal Acquisition Regulation (https://www.acquisition.gov/far/part-30#FAR_30_101), maintains specific requirements for a US Government Contractor when they apply to a US Federal Government Contract. A CAS Covered Contract is one that meets specific qualifications that trigger CAS Coverage. The qualifications, exceptions, and other conditions that determine CAS Applicability, […]

Cost Accounting Standards (CAS) 401 and 402 are all about a U.S. Government contractor’s consistency in its cost accounting practices. While CAS 401 dictates the requirements for contractors to “bid, book, and bill” consistently, CAS 402 focuses on how a contractor ensures that contracts are not inequitably charged for similar costs incurred in like circumstances.. CAS […]

A CASB Disclosure Statement is a form whereby a US Government Contractor discloses its cost accounting practices, for which it is required to demonstrate CAS compliance for the life of its active CAS (Cost Accounting Standards) covered awards. The CASB Disclosure Statement, otherwise known as DS-1, has a very rigid format with eight different parts: […]