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The Wait Is Over for Women-Owned Small Businesses

Client Alert | 1 min read | 04.11.11

Women-owned small businesses (WOSBs) should now have greater access to federal contracts as a result of a long-awaited interim rule, published April 1, 2011, which provides guidelines for the WOSB program and allows COs to set aside contracts for certified WOSBs and economically-disadvantaged WOSBs. However, despite the momentum from these new regulations and the SBA's intent to provide WOSBs "with the oxygen they need to take their business to the next level," until the SBA approves third-party certifiers, access to government contracts for non-8(a) WOSBs will be limited to a self-certifying entities and contingent upon the submission of a laundry list of corporate and other documentation for each procurement, thus imposing burdens on WOSBs and COs.

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Client Alert | 1 min read | 07.08.26

CAS Board Publishes Final Rule Rescinding CAS 404, 408, 409, and 4117

As part of its ongoing effort to conform the Cost Accounting Standards (“CAS”) to generally accepted accounting principles (“GAAP”), the CAS Board published a final rule rescinding CAS 408 (Accounting for costs of compensated personal absence) and CAS 411 (Accounting for acquisition costs of material).  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which will be located in new paragraphs of CAS 405 (Accounting for unallowable costs).  Specifically, the CAS Board retained the requirements currently located at CAS 404-50(d)(1), CAS 409-50(e)(5), CAS 409-50(j)(1), and CAS 409-50(j)(4), which the CAS Board explained are necessary to protect the Government’s interests.  Otherwise, the CAS Board determined that the requirements of CAS 404, 408, 409, and 411 overlapped with GAAP such that GAAP “may be applied reasonably as a substitute for CAS to support contract cost and pricing.”...

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