Question

What do you mean by cost accounting standards ?

Answer 1

Answer:

The Cost Accounting Standards (CAS) are a set of 19 standards and rules promulgated by the U.S. government to be used in establishing costs on negotiated procurements.

__________❣

Answer 2

Answer:

➡️ Cost Accounting Standards (popularly known as CAS) are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements.

➡️ CAS differs from the Federal Acquisition Regulation in that FAR applies to substantially all contractors, whereas CAS applies primarily to the larger ones.

➡️ The CAS Board regulations do not define “award” but the term is used interchangeably with “CAS-covered contract” which is defined as “any negotiated contract or subcontract in which a CAS clause is required to be included.”

Hope it Helps You ❣️