Difference between revisions of "Modified CAS Coverage"
(→Disclosure Statements) |
|||
| Line 26: | Line 26: | ||
== Disclosure Statements == | == Disclosure Statements == | ||
| − | Segments subject to modified coverage do not normally submit Disclosure Statements. Each segment of a Business Unit that does not meet an exemption of prior years CAS covered awards were less than 50M | + | Segments subject to modified coverage do not normally submit Disclosure Statements. Each segment of a Business Unit that does not meet an exemption of prior years CAS covered awards were less than 50M and less than 30% of the total sales for the segment. |
Note: In order to qualify for the disclosure exemption, a contributing segment must meet both tests, percent sales and dollar threshold, unless another exemption applies. | Note: In order to qualify for the disclosure exemption, a contributing segment must meet both tests, percent sales and dollar threshold, unless another exemption applies. | ||
Revision as of 12:58, 26 October 2016
There are 3 types of CAS coverage. They are:
No coverage
Modified CAS coverage
Full CAS coverage
Standards only applying to Modified CAS Coverage
There are four (4) standards that only apply to Modified CAS coverage. They are:
CAS 401 - Consistency in Estimating, Accumulating, and Reporting Costs
CAS 402 - Consistency in Allocating Costs Incurred for the Same Purpose
CAS 405 - Accounting for Unallowable Costs
CAS 406 - Cost Accouting Period
Determining Modified CAS Coverage
Disclosure Statements
Segments subject to modified coverage do not normally submit Disclosure Statements. Each segment of a Business Unit that does not meet an exemption of prior years CAS covered awards were less than 50M and less than 30% of the total sales for the segment.
Note: In order to qualify for the disclosure exemption, a contributing segment must meet both tests, percent sales and dollar threshold, unless another exemption applies.
