Cost Accounting Standards
/ˈkɒst əˈkaʊntɪŋ ˈstændərdz/
Definitions
- (n.) Regulations issued by the Cost Accounting Standards Board specifying uniform accounting principles for measuring, assigning, and allocating costs to government contracts.
Contractors must adhere to Cost Accounting Standards to ensure compliance with federal procurement laws.
Forms
- cost accounting standards
- cost accounting standard
Related terms
See also
Commentary
Cost Accounting Standards are technical and require precise compliance, often referenced in federal contracting documents to ensure consistency and fairness in cost reporting.
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