How to Record CAS Disclosure Statement Prep
Recording the administrative labor and consulting costs to prepare or significantly revise a Cost Accounting Standards (CAS) Disclosure Statement (DS-1).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| G&A - CAS Compliance Costs | Debit | 15,000.00 | - |
| Accounts Payable | Credit | - | 15,000.00 |
💡 Accountant's Note
This entry captures the cost of developing the formal description of a contractor's cost accounting practices as required by CAS-covered contracts.
Practitioner & Systems Framework
💻 ERP Architecture
Costs should be tracked in G&A; ensure no double-counting with IR&D or Bid and Proposal pools.
⚠️ Audit Flags
Threshold of $50M in CAS-covered awards or a change in accounting practice requiring a DS-1 update.
📄 Required Documentation
Copy of the submitted DS-1, consultant invoices, and internal labor distribution reports.
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