Cost Accounting Standards for Small and Medium Contractors

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This is session 1 of 2 in the FPS Cost Accounting for Small and Medium Contractors series.

Many contracts contain the FAR clause 52.230-2 Cost Accounting Standards (CAS). Most small businesses are exempt from CAS Coverage under 48 CFR 9903 but are preparing for growth – meaning they will likely be covered soon. Many medium firms do not have a CAS-covered contract yet or are preparing to complete their first Disclosure Statement. In both instances, Government contractors may become subject to CAS with just the right contract award.

CAS is a set of standards that are designed to achieve uniformity and consistency in cost accounting practices and deals with the allocability of costs. To achieve the consistency that auditors look for and that contractors can adhere to, we will examine the applicable cost principles as well as defining the homework necessary to easily prepare for disclosure. Walk with us as we talk about the basics of what is required to prepare for a Disclosure Statement, as well as know when CAS should be on your radar. This is the first webinar in the Cost Accounting Standards for Smalls & Mediums Series.

Learning Objectives:

Learn what’s behind Cost Accounting Standards
Know CAS Disclosure Statement applicability thresholds….and when they are not applicable
Find out the “basics” of CAS that all contractors need to adhere to
Discover elementary cost accounting principles
Understand accounting system requirements to ensure compliance with the Standards

About Our Experts

Marsha Lindquist

President, CPP APMP Fellow, NCMA Fellow, Granite Leadership Strategies

Marsha Lindquist is an experienced price proposal manager & contracts professional. She is an expert in cost proposal management, development & pricing strategy. Marsha has built a tradition of quality consulting to Government contractors for over 30 years. She has wide-ranging experience with Government contracting firms–mostly scientific & high technology companies. Marsha is adept in persuasive pricing that wins & is masterful in authoring customer-focused winning pricing strategies. Marsha works with her clients on concepts that help people cut through the irrelevant, zero in on the things that distinguish, and create value. She is described by clients as tenacious and a true pro. Ms. Lindquist has achieved the distinguished titles of NCMA Fellow, APMP Fellows & APMP Practitioner. Marsha can be often seen hiking with her dog Ziva - a young Australian Shepherd with lots of energy.

Social Media Info
LinkedIn: https://www.linkedin.com/in/marshalindquist1/
Website: www.GraniteLeadershipStrategies.com

EDUCATION

Frostburg State University, MBA Finance

The American University - Kogod School of Business, BS Marketing, Accounting

The American University, Bachelor of Business Administration

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Fill out this form and someone from FPS will contact you shortly. You can fill out as much or as little information as you would like. Prefer to talk to us? Call 888.865.9082.