Preparing, Proposing and Submitting Cost Impact Proposals Under the CAS Regime

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1 hour

In this presentation, we discuss various situations that require a company to prepare a cost impact proposals when altering a "cost accounting practice" (48 CFR 9903.302-2). We explore the rationale behind these various types of changes, challenges in isolating cost accounting practices, while navigating through a mire of ambiguity. After an introduction, in which we discuss situation in which a cost impact proposal is needed, we specifically explore:

Types of accounting changes that give rise to the requirement to submit a cost impact proposal (required, desirable or unilateral)
Differences between requirements for General Dollar Magnitude (GDM) and Detailed Cost Impact (DCI) cost impact proposals
The process for resolving cost impacts identified in cost impact proposals

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CohnReznick LLP is one of the top advisory, assurance, and tax firms in the U.S., combining the deep resources of a national firm with the hands-on, agile approach that today’s dynamic business environment demands. The Firm provides companies with the insight and experience to help them break through and seize growth opportunities.

About Our Experts

Darrell Hineman

Director, CohnReznick

Darrell M. Hineman, CPA, CFE, is a Director with CohnReznick’s Government Contracting Industry Practice. He has spent his career in accounting and federal government contracting arena, assisting clients in navigating through government contracting regulations, especially in researching and interpreting the Federal Acquisition Regulations (FAR) cost principles, Cost Accounting Standards (CAS) and various other regulatory supplements. He has worked with many branches of the U.S. Government, such as the Department of Defense (DOD), the Department of Energy (DOE), and the Department of Health and Human Services (HHS), to name a few.
Jeff Witt

Senior Manager, CohnReznick

Jeff Witt, CPA, CIA, CFE, is a senior manager at CohnReznick and a member of the Firm’s Government Contracting Industry Practice with over 25 years of experience in the areas of federal contract compliance. He has extensive knowledge of the Federal Acquisition Regulations (FAR) and Cost Accounting Standard Requirements (CAS); indirect rate design; direct and indirect cost charging/billing practices; various cost and estimate analysis; and federal regulations and requirements on cost allowability, allocability, and reasonableness. Jeff has worked as a DCAA auditor, a Controller for a government contractor, and while working as a CPA, as both an auditor and consultant to government contractors.

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