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Overview of Cost Accounting Standards (CAS) for Government Contractors

Cherry Bekaert

Among those regulations are the Cost Accounting Standards (CAS), which are one of the most common challenges faced by emerging government contractors. Compliance with CAS is a contractual obligation, and failure to adhere to these standards can result in financial penalties, contract adjustments and contract termination.

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An Essential Guide to Accounting and Basic Accounting Principles for Beginners

Snyder

To achieve accounting profits, you need to make sure to take the following four steps to reach your goal: Recording, Repeating, Interpreting, and Analyzing. Let’s define each of them to understand the main principles thoroughly. By law, accountants representing all publicly traded companies in the US must comply with GAAP. .