Does CAS (Cost Accounting Standards) Coverage Matter? | PNWC’s Government Contracting Update

For purposes of CAS (Cost Accounting Standards), Government contractors fall into one of three categories, exempt, modified coverage, and full coverage (see CAS Coverage, Full, Modified, or Exempt). Only one percent of contractors fall under modified or full CAS coverage (see Only 1 Percent of Contractors are CAS Covered). The remaining 99 percent are exempt. But that statistic is a bit misleading to the 99 percent. Since the last last CAS Standard was promulgated 37 years ago, most of the CAS standards have been incorporated into the FAR (Federal Acquisition Regulations) either directly or conceptually.

Source: PNWC’s Government Contracting Update: Does CAS (Cost Accounting Standards) Coverage Matter?