Key Terms Relating to
Cost Accounting
Standards:
CAS, CASB
Cost Accounting Standards as publicized by the Cost Accounting Standards Board, a part of the OMB, to provide guidance for cost accounting practices on federal contracts.
OMB
The Office of Management and Budget is the governing body for Cost Accounting Standards.
DS,DS-2
The Disclosure Statement required of some institutions under CAS, and which may be required of others under OMB Circular A-21 revisions currently in draft.
FAR
The Federal Acquisitions Regulations, Part 30 of which incorporates the Cost Accounting Standards into federal contracting process.
DOD
Department Of Defense, a federal agency which contracts many universities for services.
ONR
The Office of Naval Research, the cognizant agency for many DOD contractors, including several universities.
DHHS
The Department of Health and Human Services, cognizant agency for most research universities.