Cost Accounting Standards (CAS)

Cost Accounting Standards (CAS) are a set of rules and guidelines established by the U.S. government to ensure that costs are measured and reported consistently in government contracting. They help ensure that taxpayers get fair value for their money by promoting transparency and accountability in how contractors allocate and calculate expenses. By adhering to these standards, businesses can provide accurate cost estimates and financial reports, which helps prevent waste and promotes fair competition among contractors. CAS is crucial for maintaining trust and efficiency in government-funded projects.