Cost Accounting Standards (CAS): Considerations for a Growing a GovCon

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 other parts of the series:

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Eric Poppe

Advisory Services

Managing Director, Cherry Bekaert Advisory LLC

Past Episodes

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September 10, 2024

12:15

Speakers: Eric Poppe, Jonathan Reid

Learn the do's, don'ts, and pitfalls of outsourced accounting for government contractors. Discover how to make a smooth transition to outsourced accounting.

Podcast

August 28, 2024

15:04

Speakers: Eric Poppe

Learn the crucial steps in selecting an ERP system that aligns with your business needs, including stakeholder discussions and integration requirements.

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August 13, 2024

11:04

Speakers: Michael G. Cippel, Irwin Kaplan, Jonathan Reid

Explore the benefits of accounting outsourcing for government contractors and learn how to choose the right firm and optimize your partnership.