Description
Course Overview
This course provides an overview of Cost Accounting Standards (CAS). When contractors receive their first contract subject to modified or full CAS, understanding the requirements can be overwhelming. In this course, we discuss the history of CAS, the differences between modified and full CAS, and the exemptions from CAS. The course briefly discusses each of the 19 CAS standards in 48 Code of Federal Regulations 9904, when they are applicable to a contract, and their interrelationship with FAR Part 31. We explain what a disclosure statement is, when it is required, the information included, the requirements for each reporting unit, and the government’s adequacy and compliance review process. Finally, the course walks through CAS administration in FAR Part 30, discusses the types of accounting practice changes, notification requirements to the government, noncompliance, identifying the universe of CAS-covered contracts, and cost impacts.
Course Objectives
- Define Cost Accounting Standards (CAS)
- Identify types of CAS coverage and applicability
- Overview of CAS Disclosure Statements
- Identify cost accounting practice changes
Course Run Time
- 2.5 hours
CPE Credit
- CPE is not offered for this LMS training course module or the LMS training course package.
- CPE credit is available using other training methods (Custom Training, In Person Training (Group), In Person Training (Individual), Live Webinar Training).
