Cost Accounting Standards 406, 407 and 408

• Overview
• Credits

Gain the information you need to ensure your company is compliant under CAS 406, 407, and 408.The Cost Accounting Standards (CAS) are the foundation for government contracting accounting. Many contractors find out they have not been following the CAS requirements on at an audit or review. Failing to follow CAS requirements can result in the loss of contract awards, retroactive cost/price adjustments with or without interest, and potential criminal implications (in the case of fraud). The most important defense against any of those undesired outcomes is knowledge. This topic will give you the information you need to ensure your company is compliant under CAS 406, 407, and 408.

Authors

Agenda

Overview of CAS

• Purpose

• Types of CAS Coverage

• When Is a Company Subject to CAS

• CAS Standards Overview

CAS 406 Accounting Period

• Purpose

• Clause

• Restructuring Costs

• Reasons for Changes

• Audit Considerations

CAS 407

• Purpose

• Clause

• Examples

CAS 408

• Purpose

• Types of Leave

• Clause

• Which Leave Is Accrued

• Accounting for Leave

• Executive Order 13706