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This document is a Disclosure Statement designed for educational institutions to meet the requirements of Public Law 100-679, detailing the institution's cost accounting practices. It includes sections

How to fill out cost accounting standards board

How to fill out COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT

1. Begin with the title page, including the title 'Cost Accounting Standards Board Disclosure Statement'.
2. Fill in the identifying information, including the name of the reporting entity and contact details.
3. Provide a summary of applicable Cost Accounting Standards (CAS) being adhered to.
4. Complete the sections regarding organizational structure, outlining how the entity is organized and operates.
5. Disclose financial information as required by CAS, including accounting practices and methods used.
6. Include any relevant compliance information to show alignment with CAS requirements.
7. Review and ensure all required signatures or authorizations are included at the end of the document.
8. Submit the completed disclosure statement as per the guidelines provided by the Cost Accounting Standards Board.

Who needs COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT?

1. Entities that are subject to Cost Accounting Standards, including government contractors and subcontractors.
2. Organizations seeking federal contracts that require compliance with CAS requirements.
3. Businesses that need to provide transparency in their cost accounting practices to regulatory bodies.

People Also Ask about

What is the cost accounting standard 416?

CAS 416 – Accounting for Insurance Costs This standard requires contractors to account for the insurance costs (such as premiums, losses, etc.) consistently and to allocate those costs to the cost objectives (such as contracts, projects, etc.) protected by the insurance coverage.

What is the cost accounting standards board disclosure statement?

The Cost Accounting Standards Board Disclosure Statement (CASB DS-1) is the form required by Public Law 100-679 for contractors and subcontractors. Its purpose is to provide consistency in reporting of costs. All new contractors are required to submit a CASB DS-1 before a contract of $50 million or more is awarded.

What is the cost accounting standard?

This standard deals with the principles and methods of classification, measurement and assignment of pollution control costs, for determination of Cost of product or service, and the presentation and disclosure in cost statements.

What is the cost accounting standard 406?

CAS 406 requires contractors to use defined cost accounting periods consistently when estimating, accumulating, and reporting costs. This standard ensures that costs are properly allocated to the correct time periods, promoting accuracy and fairness in contract pricing.

What are the CAS cost accounting standards?

Cost Accounting Standards (CAS) are a set of standards that are designed “to achieve uniformity and consistency in cost accounting practices.”

What is the threshold for a CAS disclosure statement?

A CASB Disclosure Statement is required if Full-CAS coverage applies to a contractor. [Click here] to learn more about types of CAS coverage and CAS applicability. Any CAS-covered contract of $50 million or more requires a Disclosure Statement prior to the contract award.

What is the cost accounting standard CAS 416?

CAS 416 provides criteria for the measurement of insurance costs, the assignment of such costs to cost accounting periods, and the allocation to final cost.

For pdfFiller’s FAQs

What is COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT?

The Cost Accounting Standards Board Disclosure Statement is a document that provides information about the cost accounting practices of firms doing business with the federal government, ensuring compliance with the Cost Accounting Standards (CAS).

Who is required to file COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT?

Firms that are required to comply with the Cost Accounting Standards, particularly those doing business with the U.S. federal government, must file the Cost Accounting Standards Board Disclosure Statement.

How to fill out COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT?

To fill out the Cost Accounting Standards Board Disclosure Statement, businesses should carefully review the instructions provided with the form, provide accurate and detailed cost accounting practices, and ensure that all required sections are completed thoroughly.

What is the purpose of COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT?

The purpose of the Cost Accounting Standards Board Disclosure Statement is to inform the federal government and contracting officers of the cost accounting practices used by the contractor, ensuring transparency and compliance with federal regulations.

What information must be reported on COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT?

Information reported on the Cost Accounting Standards Board Disclosure Statement includes descriptions of accounting practices, cost allocation methodologies, direct and indirect cost treatment, and any changes in accounting practices that may affect the incurred costs.