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The Cost Accounting Standards (CAS) is designed to promote uniform and consistent methods of accounting practices for contractors. This course explains to which contracts and contractors the Standards are applicable, and highlights the current and proposed exemptions to the Standards. Discussions include the requirements of all 19 Standards, the differences in accounting as compared to GAAP and IFRS, and methods of structuring your accounting system for compliance. The administrative requirements, including preparation of the Disclosure Statement, and post award contract adjustments due to changes in accounting practices are also covered.
This course may also be eligible for the following credits through The Public Contracting Institute:
- 13 CLEs
- 16 CLPs
This course is eligible for 16.00 CPEs
George Mason University Executive and Professional Education (formerly George Mason University Learning Solutions) is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417.
- Identify when the Cost Accounting Standards are applicable and when a Disclosure Statement is required.
- Distinguish the differences between “modified” and “full” CAS coverage and to which contracts and subcontracts the Standards apply.
- Recognize the fundamental requirements and techniques of application for the Standards.
- Assess accounting system designs for compliance with the Standards.
- Appraise administrative requirements for changes to accounting practices and fundamentals of the General Dollar Magnitude and Detailed Cost Impact.
- Prepare the CASB Disclosure Statement.
Requirements100% attendance and participation are expected from participants.
Designed ForThis course is designed for early to mid-career government contractors seeking to enhance their professional knowledge and skills. For seasoned contractors, this course also serves as a refresher on current industry best practices.
Applies Towards the Following Certificates
- Government Contracts Accounting : Elective Courses