How to Handle Offsetting Multiple Changes to Cost Accounting Practices

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Often times, contractors may experience a cost accounting practice change or even several simultaneously, which will impact multiple facets of the business including the Cost Accounting Standards (CAS) covered federal contracts. The accounting changes often impact contracts oppositely, that being said, one may increase the costs owed by the Government and one may decrease the costs owed by the Government. Up until a recent appeal entered by Raytheon to the Armed Services Board of Contract Appeals (ASBCA), no statutory history or evidence existed on how to treat simultaneous multiple cost accounting changes. The lack of …read more

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