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COST ACCOUNTING STANDARDS BOARD DISCLOSURE STATEMENT FOR EDUCATIONAL INSTITUTIONS CASE DS2Georgia Institute of Technology/ Georgia Tech Research CorporationProposed Revision Number 12 Effective July
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01
Familiarize yourself with the Cost Accounting Standards (CAS) Board regulations and requirements.
02
Determine if your company falls under the jurisdiction of the CAS Board.
03
Review the specific CAS clauses applicable to your contracts or subcontracts.
04
Gather necessary financial and cost data to accurately fill out the required forms and reports.
05
Consult with a qualified accountant or financial expert if needed to ensure compliance with CAS Board standards.
06
Submit the completed forms and reports to the appropriate regulatory agency or contracting officer in a timely manner.

Who needs cost accounting standards board?

01
Government contractors and subcontractors who receive contracts subject to the Cost Accounting Standards (CAS) regulations.
02
Companies that want to ensure accurate costing and pricing practices in their government contracts.
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The Cost Accounting Standards Board (CASB) is an agency of the federal government of the United States that establishes cost accounting standards for government contracts.
Government contractors and subcontractors that are subject to the Cost Accounting Standards (CAS) are required to file with the CASB.
Contractors must complete and submit the required forms and documentation to the CASB in accordance with the established guidelines.
The purpose of the CASB is to ensure that government contractors maintain consistent and accurate cost accounting practices when working on government contracts.
Contractors are required to report detailed cost information related to their government contracts, including direct and indirect costs.
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