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Cost Accounting Standards (CAS): A Comprehensive Overview for Government Contractors

Cherry Bekaert

Cost Accounting Standards (CAS) are 19 standards and rules promulgated by 41 U.S.C. They are designed to achieve uniformity and consistency in cost accounting practices and to improve the accuracy of cost data by ensuring its basis on consistent definitions and principles. Contact us to discuss your situation.

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Cost Accounting Standards (CAS) Series: Implications When Acquiring Companies

Cherry Bekaert

In the third episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Brendan Halloran , a Director with Cherry Bekaert Advisory, is joined by Jeffery Annessa , a Senior Manager in Cherry Bekaert’s Government Contractor Industry practice, to discuss CAS implications during mergers and acquisitions.

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Cost Accounting Standard Considerations for a Growing GovCon

Cherry Bekaert

Contact Us The post Cost Accounting Standard Considerations for a Growing GovCon appeared first on Cherry Bekaert.

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Common Accounting Mistakes: Government Edition - Issue #11 What is GAAP?

SMBAccountant

Many small business government contractors are exempt from complying with cost accounting standards (CAS) and defined by the code of federal regulations (CFR). However, compliance with generally accepted accounting principles (GAAP) is required. What exactly is GAAP?

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Common Accounting Mistakes: Government Edition - Issue #10 Indirect Rate Calculations and Associated Risks

SMBAccountant

Indirect rates are not exclusive to government contractors. As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service.

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Understanding Incurred Cost Proposal Submissions: A Crucial Aspect of Government Contracting

Withum

Government contracting can be a lucrative venture for businesses, but it comes with a host of regulatory and financial responsibilities. One of the critical elements in managing government contracts is the Incurred Cost Proposal (ICP) submissions. These costs can be directly traced to a single cost objective.

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Common Accounting Mistakes: Government Edition - Issue #10 Indirect Rate Calculations and Associated Risks

SMBAccountant

Indirect rates are not exclusive to government contractors. As part of any cost accounting management system, rates are determined in order to apply costs that are not directly related to a product or service. Direct costs are expenses directly associated with a product or service.