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Simplifying Complex Requirements
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For government contractors, compliance with Cost Accounting Standards (CAS) is essential to ensure accurate cost allocation and reporting. At Barclay Group LLC, we provide expert guidance to help your business meet CAS requirements and maintain compliance with federal regulations.
What Are Cost Accounting Standards?
CAS is a set of 19 standards designed to ensure uniformity and consistency in the cost accounting practices of government contractors. These standards apply to contracts exceeding specific thresholds and require businesses to follow strict guidelines for cost allocation, pricing, and reporting. Non-compliance can result in penalties, disallowed costs, or loss of contracts.
Our CAS Compliance Services
We specialize in helping businesses navigate the complexities of CAS. Our services include:
- Cost Accounting System Reviews We evaluate your current accounting system to ensure it aligns with CAS requirements. This includes reviewing cost allocation methods, indirect cost structures, and timekeeping practices.
- Disclosure Statement Preparation Contractors subject to CAS are required to submit a Disclosure Statement (DS-1) outlining their cost accounting practices. We assist in drafting and submitting an accurate and compliant Disclosure Statement.
- Cost Allocation Compliance Proper cost allocation is critical under CAS. We help establish compliant practices for direct and indirect cost allocation, ensuring your contracts meet federal standards.
- Audit Support and Representation CAS audits can be daunting, but we provide expert support to prepare for and respond to federal audits. Our team ensures your documentation and systems pass rigorous reviews with ease.
- Ongoing CAS Monitoring Regulations change, and so should your compliance strategies. We monitor updates to CAS requirements and help you adapt to new standards, ensuring long-term compliance.
Government Contracting, Compliance & Accounting-Stay Compliant, Win More Contracts, and Grow with Confidence!
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Written By Jacob Barclay
Jacob is a seasoned accounting and government contracting expert with over 15 years of experience in accounting and more than a decade specializing in federal contracting. He holds a B.S. in Accounting from James Madison University and completed the Masters Academy in Government Contracting at George Mason University.
