In the second episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with DCAA and held various positions such as Quality Manager, Supervisory Auditor, Field Audit Office Manager, and Artan Ivezaj, a manager in Cherry Bekaert’s GovCon practice with 15 years of experience at the DCAA, to discuss CAS considerations for a growing GovCon. Listen to this the episode to find out more about:
- When a company should start thinking about CAS
- The difference between full and modified CAS coverage
- Explanation of the fundamental requirements of CAS 401 and 402
- CAS 401: Consistency in Estimating, Accumulating, and Reporting Costs
- CAS 402: Consistency in Allocating Costs Incurred for the Same Purpose
- The commonality of Federal Acquisition Regulation (FAR) Cost Principles, Approved Accounting System, and CAS
- Being aware of CAS 405 and 406
- CAS 405: Approved accounting system requires the system to ensure unallowable costs are reviewed and removed from government billings
- CAS 406: Cost Accounting Period
- Important notes about CAS Coverage and the applicability towards subcontracts
- Disclosure Agreement as it pertains to CAS
Cherry Bekaert’s team of government contracting consultants have significant CAS experience and can help your growing government contracting business navigate CAS. If you have any questions specific to your situation, our GovCon consultants are available to discuss your situation with you. Contact us.
If you haven’t already, catch up on Part 1 of the series:
- Cost Accounting Systems Series: Part 1 – An Overview
Related Guidance
