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AUD 1541





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iCatalog Home AUD 1541 Cost Accounting Standards
(Last Modified:10-Apr-2014)

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Description
This course is designed to provide the field auditor the ability to apply the Cost Accounting Standards Board (CASB) rules, regulations, and standards most often encountered, including CAS-coverage, direct and indirect cost allocation, cost accounting practice changes, and cost impacts.

Click here to view the course description in the DCAI Catalog of Courses
Objectives
At the completion of the course, the student will be able to:
  • determine whether a contract is CAS-covered or is exempt;
  • determine if a Disclosure Statement is required;
  • determine whether the contract is subject to full or modified coverage;
  • explain the concepts and objectives of the CASB rules, regulations and standards;
  • evaluate the contractor's cost allocation practices for compliance with CAS 402 (consistency in allocating costs incurred for the same purpose), 403 (allocation of home office expenses to segments), 410 (allocation of business unit G&A), and 418 (allocation of direct and indirect costs);
  • evaluate the contractor's compliance with the CAS clauses in CAS-covered contracts and related FAR Part 31 cost principles relating to non-CAS covered contracts;
  • introduce and discuss applicability of CAS 420 (accounting for IR&D/B&P);
  • explain the consistency requirement and how to identify a cost accounting practice change and a cost accounting practice change in a dynamic business environment;
  • identify essential cost impact proposal terms, requirements, and verify cost impact calculations as well as make appropriate recommendations to the Cognizant Federal Agency Official (CFAO).

    In addition, the student will be provided a Cost Impact Job Aide tool discussed in class to assist in understanding and verifying cost impacts.
  • Target Attendees
    GS-11 and above auditors with at least two years of DCAA service
    Prerequisite(s)
  • AUD 1231, Intermediate Contract Auditing
    OR
  • AUD 1320, Intermediate Contract Auditing
  • All attendees should have demonstrated some knowledge relating to cost allocation concepts, CAS administration, cost impacts, and disclosure statements, equivalent to that gained through CMTL Courses 1570, 1571, 1572, 1575, and 1580.
  • Predecessor Course(s) (Acceptable as a substitute for this course until the acceptance date specified below.)
    Predecessor Predecessor Course Title PDS Code Accepted Until
    None None None None
    Course Length
    5 Classroom days
    Additional Course Information
    Delivery Mode Resident
    Equivalent Courses None
    ACE Recommended Credits N/A
    PDS Code  
    DAU Public (material/prework) N/A
    Continuing Education Units   0
    Continuous Learning Points  0
    Reservist Retirement Points  0
    Historical Allocations Mouse Over for Past CEU/CLPs
    Notes
  • This training is conducted by DCAA. DCAA training is intended for DCAA auditors, and their residential courses are not open to non-government employees. Click the “Apply for this Course” icon in the upper right corner of your screen to request further information.
  • 34 CPE (CPE credit currently only available to DCAA employees)