Need 120-160 word thread for both question
LA 1
Your choice. do either (a) or (b):
(a) Pick one exemption to CAS, describe in layman’s terms what it means, and provide an example situation where it would apply. Is there any “wiggle room” in the exemption, or is it “cut and dried”?
(b) Go to FAR Part 31, choose a cost element, and provide a real life example of where it could be an issue for a contractor.
LA 2
Your company does $80 million in government sales annually. Do you need to have a Disclosure Statement? Why or why not?
Reference
http://www.dcaa.mil/cam/Chapter_08_-_Cost_Accounti…
- Part 30 Cost Accounting Standards Administration, Volume 1, page 30.1
