What are Cost Accounting Standards (CAS)?
A. CAS are promulgated by the Cost Accounting Standards Board (CASB), which is a board established by Congress. CAS are designed to achieve uniformity and consistency in the measurement, assignment, and allocation of costs to Government contracts. The standards are based on examinations of common cost accounting practices throughout industry. The fundamental purpose of CAS is to ensure fair and equitable accounting for the expenditure of federal dollars. The CAS are codified in the Code of Federal Regulations in 48CFR Chapter 99.
