Understanding How CAS and FAR Work Together Training Webinar

This FREE webinar will provide government contractors with practical insights into the connection between the Cost Accounting Standards (CAS) and the Federal Acquisition Regulation (FAR) Part 31 cost principles. Even when contractors are not directly CAS-covered, key elements of CAS are incorporated into FAR and affect cost allowability, consistency, and audit expectations. Understanding how these two sets of requirements interact in government contracts is essential for maintaining compliance and preparing for DCAA reviews.

Learning Objectives

At the completion of this one-hour webinar, participants will be able to:

• Identify CAS standards incorporated into FAR 31.205 cost principles
• Understand what it means to comply with CAS requirements through FAR 31.201–31.203
• Recognize how consistency in cost allocation impacts both CAS and FAR requirements
• Understand how DCAA auditors evaluate CAS compliance, even when contracts are not CAS-covered

Program Content

This webinar will cover the following topics:

• The relationship between FAR Part 31 cost principles and CAS requirements
• How CAS concepts apply even without CAS-covered contracts
• Examples of costs where CAS and FAR interact differently (e.g., self-insurance, ESOP contributions, cost of money)
• The practical impact of Modified vs. Full CAS coverage on contractors
• How DCAA auditors reference CAS in practice

About Redstone GCI

RGCI enables contractors doing business with the U.S. government to comply with the complex and challenging procurement regulatory provisions and contract requirements by providing superior cost, pricing, accounting, and contracts administration consulting expertise to clients expeditiously, efficiently, and within customer expectations. Our consulting expertise and experience is unparalleled in understanding unique challenges of government contractors, our operating procedures are crafted and monitored to ensure rock-solid compliance, and our company’s charter and implementing policies are designed to continuously meet needs of clients while fostering a long-term partnership with each client through pro-active communication with our clients.