Updating cas disclosure statements

by  |  03-Feb-2020 16:53

This section is used to identify the treatment of costs. For each tangible asset listed, assign the appropriate code for each of the four columns.

For each item on the list, you’ll assign a treatment code and list the name of the pool. The columns indicate: Then, mark whether the listed items are expensed or capitalized, how gains and losses on dispositions are treated, the criteria for capitalization and if there are group or mass purchases.

Cost Accounting Standards (popularly known as CAS) are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements.

On the basis of the comments received in response to this Staff Discussion Paper, an Advance Notice of Proposed Rulmaking (ANPRM) was developed and published in the Federal Register on April 4, 1994 (59 FR 15695).

The majority of the comments received in response to the ANPRM were generally supportive of the proposed approach, but at the same time, numerous revisions were suggested that were intended to improve and streamline the document.

OFFICE OF MANAGEMENT AND BUDGET Office of Federal Procurement Policy 48 CFR Part 9903 Cost Accounting Standards Board; Revisions to the Cost Accounting Standards Board Disclosure Statement Form (CASB DS-1) AGENCY: Cost Accounting Standards Board, Office of Federal Procurement Policy, OMB ACTION: Final rule.

The Office of Federal Procurement Policy, Cost Accounting Standards Board (CASB), is revising its Disclosure Statement Form (CASB DS-1). 422(g)(1), requires that the Board, when promulgating any new or revised Cost Accounting Standard, publish a final rule.

It includes pertinent information such as: Direct labor cost disclosure explains your method of charging for labor, variances and dispositions. For service centers and expense pools, you’re allowed to assign up to three codes.

Community Discussion