This course will cover the fundamental requirements of the Cost Accounting Standards (CAS) as well as recent or proposed changes in the regulations and trends in government audits of CAS.

The instructor will discuss concepts for allocation, assignment and measurement of costs, the applicability of CAS to individual contracts; determining type of CAS coverage (full or modified); criteria for submitting CAS disclosure statements in which cost accounting practices are described; applicability to contract modifications, and changes in cost accounting practices.

In addition, we will discuss CAS provisions included in government solicitations and the differing interpretations and potential pitfalls in contractor responses, whereby companies may erroneously identify a prospective award as subject to CAS. The class content will also include an overview of each of the nineteen standards as well as a few case questions/problems to reinforce the concepts students will learn.This course will cover the fundamental requirements of the Cost Accounting Standards (CAS) as well as recent or proposed changes in the regulations and trends in government audits of CAS.

The instruction will discuss concepts for allocation, assignment and measurement of costs; CAS applicability; types of CAS coverage (full or modified); criteria for submitting CAS disclosure statements; CAS applicability to contract modifications, and changes in cost accounting practices. In addition, we will discuss CAS provisions included in government solicitations and the differing interpretations and potential pitfalls in contractor responses.