Overview

This FREE webinar will provide attendees with an overview of how the Cost Accounting Standards and FAR Part 31 work together to address cost accounting and cost allowability for government contracts. Participants will learn where FAR incorporates CAS requirements, why those requirements can affect contracts that are not CAS-covered, and how consistency affects compliance. The session will also examine CAS coverage, differing FAR and CAS treatment of costs, and how DCAA may reference CAS concepts when evaluating FAR compliance.

Learning Objectives

At the completion of this one-hour webinar, participants will be able to:

  • Explain how FAR Part 31 addresses cost allowability and CAS addresses cost measurement, assignment, and allocation.
  • Identify CAS requirements incorporated into FAR and how they affect contracts that are not CAS-covered.
  • Describe consistency requirements for estimating, accumulating, reporting, and allocating costs.
  • Distinguish requirements associated with contracts not subject to CAS, modified CAS coverage, and full CAS coverage.
  • Evaluate examples where CAS governs cost measurement or allocation while FAR determines allowability.
  • Recognize how DCAA may use CAS concepts when evaluating FAR compliance and when GAAP may apply.

Program Content

This webinar will cover the following topics:
  • The Relationship Between FAR Part 31 and CAS
  • Cost Allowability, Measurement, Assignment, and Allocation
  • CAS Requirements Incorporated Into FAR
  • Consistency in Estimating, Accumulating, Reporting, and Allocating Costs
  • CAS Applicability and Coverage
  • FAR and CAS Treatment of Selected Costs
  • Cost Accounting Practice Changes
  • GAAP When CAS Does Not Apply
  • DCAA Use of CAS Concepts in FAR Compliance Reviews

About Redstone GCI

RGCI enables contractors doing business with the U.S. government to comply with the complex and challenging procurement regulatory provisions and contract requirements by providing superior cost, pricing, accounting, and contracts administration consulting expertise to clients expeditiously, efficiently, and within customer expectations. Our consulting expertise and experience is unparalleled in understanding unique challenges of government contractors, our operating procedures are crafted and monitored to ensure rock-solid compliance, and our company’s charter and implementing policies are designed to continuously meet needs of clients while fostering a long-term partnership with each client through pro-active communication with our clients.

For more information, contact:

training@RedstoneGCI.com
256-704-9811

Redstone Government Consulting, Inc.
501 Madison Street SE, Suite 100
Huntsville, AL  35801
Website: www.redstonegci.com