Applicability of the Cost Accounting Standards (CAS) requirements to your contracts and subcontracts generates a higher level of compliance governing your cost accounting practices. Going beyond FAR Part 31 Cost Principles, CAS adds specificity to the manner in which you measure, assign, and allocate costs, and thrusts upon covered contracts potential price adjustments for failing to comply with those provisions.
Our CAS webinar will provide our audience participants a strong understanding of the basics of these regulations. It is vitally important that companies recognize CAS applicability to contracts; understand the administrative provisions of CAS compliance; comprehend general requirements of the individual standards; and navigate and resolve specific problem issues and unique concepts that are most often overlooked during the solicitation phase as well as during contract performance.
This webinar will include discussions about the following topics:
- Purpose of CAS provisions and interrelationship with Federal Acquisition Regulations
- Trigger contract award events that expose a company to CAS coverage
- Key definitions, such as “business unit”, “segment”, & “net CAS covered awards”
- Criteria for exemptions to CAS coverage
- Modified vs. Full CAS coverage
- CASB Disclosure Statement requirements, and triggering events
- Overview of all 19 CAS standards
- Solicitation events and clauses initiating potential CAS coverage upon award
- Impact of modifications on existing contracts and subcontracts
- Criteria for changes in cost accounting practices
- Requirements for “Cost Impact Proposals”
- Critical components of FAR Part 30 in CAS administration Government audits and audit issues unique to CAS contracts