Course ID: GC-IDR05

Understanding the Cost Accounting Standards (Part 5)

We will remove any misunderstandings as to the purpose of the Cost Accounting Standards (CAS). The CAS is designed for uniformity, consistency to be allocated to the appropriate intermediate or final cost objectives within an entity’s cost accounting period. We will discuss the minimum thresholds that require CAS coverage and when / when not it applies to Government Contractors.


LEARNING OBJECTIVES
  • Understand the difference between modified CAS and full CAS coverage per their thresholds
  • Discuss how modified CAS or full CAS impacts a contract and a business unit
  • Obtain a workable approach to completing a CAS Disclosure Statement
  • Take away a list of applicable CAS standards

MAJOR TOPICS
  • CAS Applicability
  • Significance of the CAS Thresholds
  • Application of CAS Thresholds
  • List of Cost Accounting Standards (CAS)
  • Disclosure Statement
  • Adequacy of Disclosure Statement

DESIGNED FOR
For Government Contractors: CEO, COO, legal, Finance & Administration, CFO, Controller, Director of Accounting, Accounting Manager, Accounts Receivable, Accounts Payable, Payroll manager, Timekeeping personnel, Invoicing, Job Costing, Compliance Officer or Compliance, Project Manager, Assistant or Deputy Project Manager, Project Officer, Quality and Assurance, Contracts Director or Contracts Manager, Pricing or Director of Pricing, Bid and Proposal personnelFor Construction: Superintendents, Field Project Manager, Project Manager, Project OfficerFor personnel working for the Federal Government: auditors, inspectors, procurement personnel. Contract officer, contract specialists, contract administrators, contract officer technical representative (COTR), contract officer representative (COR), Pricing personnelConsultants: legal, accounting, finance that interface with government contractorsPublic accountants that have the government contractor industry

FIELD OF STUDY
Accounting (Gvmt)

PREREQUISITES
None

COURSE PRODUCER
Business Learning Institute

CPE CREDITS
1.0

LEVEL
Basic

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